The total value of private equity (PE), venture capital (VE) and development capital (DC) investments in global cleantech companies declined by 50 per cent in 2013 to 8.35 billion from USD 16.70 billion in the previous 12 months. The number of deals signed last year also fell by 10 per cent to 265 transactions compared with 294 in 2012.
According to a report by Bureau Van Dijk, there was only one transaction worth more than $1 billion in 2013, which involved private equity investment firm Triton Advisors acquiring the Spanish steel and aluminium recycling and industrial waste management company Befesa Medio Ambiente for $1.40 billion.
The deal was the first investment of Triton in Spain and accounted for 17 per cent of the global PE, VC and DC value in 2013. Triton focuses on companies with the potential to create sustainable and long-term value through changing economic cycles and currently has investments in companies in Germany, Switzerland, Austria, Denmark, Finland, Norway and Sweden with combined sales of about €12.8 billion.
The pan-emerging market private equity firm Actis was the only PE, VC and DC firm involved in more than one of the top 20 deals by value in 2013. It acquired 60 per cent of Brazilian renewable energy producer Atlantic Energias Renovaveis for $169 million from Pattac Empreendimentos e Participaçoes and Servinoga, and bought the Moroccan public water suppliers Amendis and Redal for $164 million from Veolia Services a l Environnement Maroc.
The deal in Morocco was the only PE, VC and DC transaction in Morocco for the last five years. Actis exclusively invests in Africa, Asia and Latin American and has a portfolio of $5 billion invested in 65 companies. It has invested $4 billion in emerging markets and has realised $2.20 billion from $867 million cash invested since its inception in 2004.
Cleantech companies based in the US were again the most valuable and most frequent targets of PE, VC and DC investors, with a total of 101 deals worth a combined $3.12 billion that accounted for 38 per cent of total volume of and 37 per cent of the total value of deals in 2013.