Prime Super Pty Ltd as trustee of Prime Super (“Prime Super”) and Yates Electrical Services Group (“YES Group”) have acquired 100% of Savant Energy Power Networks (“Savant”), an electricity and hot water retailer to multi-tenancy buildings, with over 9,000 customer metering points across Australia.
Thomson Geer advised PATRIZIA SE (“PATRIZIA”), the investment manager for Prime Super’s infrastructure and real assets portfolio, on all aspects of the transaction, including due diligence, drafting and negotiation of transaction documents and implementing the transaction.
“This deal brings two leading South Australian businesses together, with the support of an Australian superannuation fund, to deliver renewable energy solutions to developers and occupiers of apartments, retirement villages, shopping centres and office buildings across Australia,” PATRIZIA and YES Group said in a joint statement. “The renewable energy will be sourced from a portfolio of solar and battery assets, along with the installation of onsite solar, battery, EV chargers and meters by the YES Group.”
The Thomson Geer team was led by Partner Jason Marcus, who said: “We’re pleased to have been able to assist PATRIZIA make this investment in Australia’s sustainable energy future.
“Thomson Geer has considerable experience assisting companies enter the renewable energy space and we expect this sector to continue to grow.”
Thomson Geer assembled a broad team to complete all aspects of the transaction which included:
David Thomas (Associate), Partners Chris Kelly (Property), Bridget Nunn (Employment), Josh Simons (IP), Josh Marchant (Embedded Networks), Stephen Lyons (Finance) and their respective teams.