Eight Advisory carries out the financial and tax due diligence of Amarenco for IDIA Capital

28 April 2020

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Eight Advisory carries out the financial and tax due diligence of Amarenco for IDIA Capital

IDIA Capital, along with three other Crédit Agricole Group private equity firms (Sofilaro, Grand Sud-Ouest Capital and Nord-Midi Pyrénées Développement), appointed Eight Advisory to carry out the financial and tax due diligence for their acquisition of a minority stake in the Amarenco Group.

Created in 2013, Amarenco acquired in 2017 the Carré group, a developer specialized in agricultural photovoltaic power plants. From its headquarters in Cork (Ireland) and its operational headquarters in Lagrave, near Gaillac, the Amarenco group has rapidly grown its portfolio of rooftop and ground-mounted solar power plants through several strategic partnerships and numerous successful tenders. The company now employs more than 130 people worldwide and has a turnover of €40M.

With an investment of €15 million, the Crédit Agricole Group becomes Amarenco’s largest institutional shareholder alongside the co-founding shareholders and Irish family offices.

This significant fund-raising will enable Amarenco to consolidate its leading position in the French agricultural photovoltaic market and finance its international expansion, particularly in Ireland, the Middle East and the Asia-Pacific region.

IDIA Capital was assisted in this equity investment process by the teams at Eight Advisory and Eight Advisory Avocats.

The financial due diligence was carried out by Lionnel Gérard and Guillaume Catoire.

The tax due diligence was carried out by Eight Advisory Avocats: Guillaume Rembry, Kevin Peau, Guillaume Exerjean and Tatiana Maroslavac.

 

About Eight Advisory:

Eight Advisory provides guidance to managers, investors and banks in their corporate Transactions, Reorganizations and Transformations both in France and internationally. The firm’s 440 employees, including 54 Partners, propose a financial and operational specialization dedicated to assisting managerial decision-making.

Eight Advisory is a European group, with a presence in France, the United Kingdom, Belgium, the Netherlands and Germany, capable of tapping, by virtue of its status as an Eight International Founding Member, into a network composed of several independent partners set up in 20 countries across Europe, the Americas, Asia and Oceania.

Eight Advisory Avocats is a law firm specialising exclusively in taxation. Eight Advisory Avocats works with companies of all sizes, from start-ups to large accounts, finding solutions to their ongoing or specific fiscal challenges, supporting their growth (internal and external) and their restructuring operations. The firm also acts on behalf of investment funds, advising them on ongoing or specific management of their portfolios (tax compliance, structuring of investments and divestments, management packages, etc).