Marubeni, through its wholly owned British subsidiary SmartestEnergy, has acquired 85% of Barcelona-based electricity and gas supplier Factor Energia for €204m, the companies said on 16 April.
Why Marubeni Corporation (SmartestEnergy Limited) is buying Factor Energia, S.A. (85%)
Marubeni said the deal gives it entry to fast-growing Iberian and Latin American power markets, citing expected Iberian demand growth of about 3.9% a year to 2030 from electrification and data centres. It plans to combine SmartestEnergy's trading, risk management and corporate retail skills with Factorenergia's customer base and digital platform, in line with its GC2027 mid-term strategy.
Deal terms and financing
SmartestEnergy paid €204m, about ¥37.5bn, for 85%, valuing Factorenergia at about €240m. The Ontario Pension Board, which held 50%, and JZI funds, which held 25%, exited, while founder Emili Rousaud cut his stake from 25% to 15% and stays as chief executive.
Market context
Factorenergia was founded in 1999 as Spain's first independent power retailer after market liberalisation and ranks among the country's top ten electricity retailers. It has more than 400 employees, subsidiaries in Mexico, Portugal, Chile and Brazil, and annual revenue above €600m.
