DIF Infrastructure V, SL Capital Infrastructure II (Aberdeen Standard Investments) and Local Pensions Partnership Investments (LPPI) announced the signing of an agreement to acquire 100% of Elenia Lampö Oy (Elenia Heat) from Elenia Oy.

Elenia Heat is the 9th largest district heating company in Finland. The company owns and operates 16 district heating networks across Finland with a total network length of 499km, via which it operates in 10 municipalities and serves approximately 85,000 end-customers. Elenia Heat also owns a gas distribution business, selling gas via 6 distribution networks. In addition, the company holds a 50% stake in Oriveden Aluelämpö Oy, a small district heating network in Central Finland in the city of Orivesi.

The consortium was advised by Jefferies as a sole financial adviser.