Clearwater International advises Bioenergie Wächtersbach on sale to GETEC
Clearwater International acted as sole financial adviser to the private shareholders of Bioenergie Wächtersbach GmbH on the sale of a majority stake in the company to GETEC heat & power AG.
Bioenergie Wächtersbach operates a highly modern combined heat and power plant (5MWth, 1MWel) which produces electricity and heat using woodchips from the region. The electricity is fed into the national grid under the terms of the Renewable Energies Act. The greater part of the thermal energy is used to provide district heating for the city of Wächtersbach (Hesse, Germany). Due to the successful expansion of the district heating grid, heat sales volumes grew significantly over the last years.
GETEC is one of the leading German energy service providers in the field of contracting. GETEC is specialized in energy supply for industry, real estate and healthcare on the basis of innovative and environmentally friendly technologies. With over 800 employees GETEC generates sales of approx. €750m (2013).
Due to the strong demand for district heating in Wächtersbach, the private shareholders of the company were looking for an experienced and financially strong partner to support the further development of the company, especially the further expansion of the local district heating grid.