Cinven to take majority share in Amara NZero

• ProA Capital, Pablo Arnus, Amara’s chairperson and Gonzalo Errejón, Amara’s CEO will maintain minority stakes in the company
• ProA Capital acquired a majority stake of Amara NZero in 2021
• Cinven is an international private equity firm based in London

Cinven has reached an agreement to acquire a majority stake in Amara NZero, a B2B distributor of products and services used in the energy transition market, from ProA Capital. No financial terms of the transaction were disclosed.

Amara NZero is headquartered in Madrid, Spain. The company offers a portfolio of products and services across renewables (solar, wind and hydro), electrification, and energy transition services.

Amara’s revenue has grown organically by around 65 percent per annum since 2020.

ProA Capital, Pablo Arnus, Amara’s chairperson, and Gonzalo Errejón, Amara’s CEO, will maintain minority stakes in the company and remain key partners to Amara NZero, according to a release.

“Cinven’s business services team has been focusing on exploring investment opportunities building on ESG and sustainability themes, including decarbonisation, and identified the distribution of energy transition products and services as an attractive sub-sector in which to invest,” said Rory Neeson, partner and head of Cinven’s business services sector team.

This transaction builds on Cinven’s investments in Barentz, Netceed (formerly ETC Group) and its subsequent acquisition of Amadys, and Ahlsell.

The transaction is subject to relevant regulatory approvals.

ProA Capital acquired a majority stake of Amara NZero in 2021.

ProA Capital is an Iberian mid-market firm with over €1.5 billion of assets under management. The firm is based in Madrid, Spain.

Cinven is an international private equity firm that invests in business services, consumer, financial services, healthcare, industrials and technology, media and telecommunications. The firm is based in London.

Houlihan Lokey acted as M&A advisor to Cinven on the transaction.