Alcuin Capital Partners is pleased to announce that it has exited its investment in Agrivert, the market leading owner-operator of three Anaerobic Digestion (AD), two in-vessel composting and three green waste composting plants in addition to providing planning, engineering and construction services.
Agrivert has completed a £96 million debt and equity financing that has allowed it retire expensive short and medium-term debt replacing it with a 17 year, fixed rate infrastructure loan note at lower cost provided by GCP Infrastructure Investments Limited, a London listed infrastructure debt fund.
The debt financing was financially supported by several of Agrivert’s existing equity investors and provided a full exit for equity funds advanced by Alcuin Capital Partners as well as providing the funding to complete the construction of two new 40,000 tonne per annum, 3.0MWe AD plants, one in South Wales and the other in Hertfordshire. Agrivert began construction of both plants this summer and they will be commissioned in the second half of 2016.
The transaction represents a successful exit for Alcuin, who first backed Agrivert in 2009 and subsequently made a follow-on investment in 2012 to support the ongoing growth of the business.
