Fiera, Palisade to acquire Amp US Primary Holdings

On June 12, 2023, a consortium led by Fiera Infrastructure Inc. and Palisade Infrastructure Group has acquired 100% equity in Amp US Primary Holdings Inc., a prominent US renewable energy and battery storage firm, from Canada's Amp Solar Group Inc. Amp US, now rebranded as PureSky Energy Inc., is a significant player in the US community solar and storage sector. Established in the US since 2016, it has around 200 MWDC capacity spanning 39 projects, including a recent 22 MWDC portfolio in New York. Nicole LeBlanc, PureSky's acting President, emphasizes the company's commitment to equitable energy access and looks forward to the partnership with Fiera and Palisade. Mike Reynolds of Palisade Infrastructure and Brooks Kaufman of Fiera Infrastructure both expressed their enthusiasm for PureSky's potential in the energy transition space. Amp Energy, having seen significant global growth, welcomed Carlyle as a key investor in 2021. Dave Rogers, CEO of Amp Energy, acknowledged the efforts that led to the successful acquisition and praised the robust US team. With Fiera and Palisade's support, PureSky aims to expand its portfolio and reduce CO2 emissions, anticipating a 171,000-tonne reduction by 2024. Advisors for the transaction included Macquarie Capital and DLA Piper LLP US for the consortium, while KeyBanc Capital Markets and Milbank advised Amp Energy. Financial terms were not disclosed.

Merger & Acquisition
Other
$ 0
Closed
12 June 2023