BDA Partners is pleased to announce that its client, Toshiba Energy Systems & Solutions Corp., a 100% subsidiary of Toshiba Corp., has sold Toshiba Transmission & Distribution Europe SpA (“TTDE”) to Mutares SE & Co KGaA (“Mutares”). Terms of the transaction were not disclosed.
BDA Partners, along with Eidos Partners, acted as financial advisor to Toshiba on the transaction.
Based in Genova, Italy, TTDE is a provider of full turnkey EPC (engineering, procurement, and construction) services for energy transmission and distribution. TTDE delivers HV/MV substations, battery storage systems, smart grid solutions and plants for renewable energy, all over the world.
Mutares, a listed private equity holding company headquartered in Munich, will acquire TTDE as an add-on for its portfolio company Balcke-Dürr Group, a German-based supplier of components for increasing energy efficiency and reducing environmental impact for the industry.
Hideyuki Tozawa, Managing Director and Co-Head of Tokyo, BDA Partners said: “We are proud to have been able to advise Toshiba, one of Japan’s most recognised corporates. This transaction again showcases BDA’s cross-border capabilities and our ability to handle complicated carveout divestitures for our multinational clients. We look forward to assisting more Japanese and other corporates with their portfolio divestments.”
