OX2 completes acquisition of ESCO Pacific
OX2 has today, on May 8, completed the acquisition of ESCO Pacific, a leading renewable developer in Australia
OX2 has today completed the acquisition of ESCO Pacific, that was communicated on March 31. As previously communicated, the purchase price amounts to AUD 126 million on a debt free basis (SEK 872 million*). In addition, there is a contingent consideration amounting to up to AUD 17 million to the founder based on sales and margins from the acquired project development portfolio in 2025-2027. It is estimated that ESCO Pacific will contribute positively to OX2’s results in 2024 and beyond.
The Australian renewable market offers significant growth opportunities and OX2 has identified considerable potential for value creation in ESCO Pacific through extension of the product offering to turnkey solutions, scale up of operations through acquisitions and expansion to onshore wind.
* AUD/SEK exchange rate of 6.95
For further information, please contact:
Henrik Vikström, Investor Relations Director OX2
+46 709 528 006