Acquisition of Viridis Power by Conrad Energy

BDO.LiveSite.Deals.DealTypeTransaction Services
BDO.LiveSite.Deals.IndustryBusiness Services

The BDO Midlands Transaction Services team provided Financial/Tax vendor due diligence services to InfraRed Environmental Infrastructure GP Limited and the other selling shareholders in connection with the sale of Viridis Power to Conrad Energy.

Viridis Power is engaged in the provision of fast response electricity generation to National Grid utilising reciprocating gas generators across 15 sites throughout England and Wales.

I Squared Capital portfolio company Conrad Energy is a full-service independent power producer, optimizing energy supply in local networks by delivering fast and flexible power generation when needed through its embedded power plants.  The transaction combines Conrad’s existing assets with over 320MW from Viridis Power, for an aggregate portfolio of 1.1GW of flexible generation assets in operation or various stages of construction and development.

"We were impressed with how quickly the BDO team were able to understand the dynamics of the business and articulate the key messages to potential purchasers in a clear and concise report. BDO worked to tight timescales and were very flexible in their approach, ensuring that there was no impact to the day job of the Finance function.”
David Bates, Finance Director, Viridis Power