Infracapital agrees the sale of Duon
Infracapital has agreed the sale of its 100% stake in Duon, one of the leading Polish independent gas infrastructure platforms to UCED.
Infracapital, the Infrastructure equity investment arm of M&G Plc, has agreed the sale of its 100% stake in Duon, one of the leading Polish independent gas infrastructure platforms to UCED, part of CREDITAS Group. Duon is involved in the distribution and supply of LNG and grid gas to predominantly industrial customers in areas of Poland with no gas pipelines. The company has over 800km of gas pipelines, more than 21 regasification plants and operates a fleet of 24 cryogenic semi-trailers. Duon plays a crucial role in reducing Poland’s GHG emissions through enabling coal to gas transition.
Duon was previously a subsidiary of GGE a.s., the Slovakian heat and electricity distributer which Infracapital sold to CREDITAS Group in April 2024.
Infracapital acquired the business in 2017, and under its ownership Duon has achieved a number of important initiatives including:
- High double digit EBITDA growth and significantly improving profitability
- Shifting the company’s strategic focus on products to respond effectively to market demand. Its infrastructure is well positioned for the energy transition from gas to biomethane and partial hydrogen
- Contributing to the reduction of emissions in Poland by providing cleaner solutions to high emission clients and allowing them to transition from coal to gas
The transaction is subject to merger control clearance.
Andreas Bäckman, Director at Infracapital, said:
“We originally identified Duon through our thematic investing approach and were attracted by its strong competitive position, as well as its growth prospects as Poland was accelerating the journey towards cleaner energy. During our ownership, and under the leadership of CEO Krzysztof Kowalski, the company has been cementing its role as a driving force of energy transition. We leave Duon very well positioned as a key player in the Polish market and look forward to seeing its continued success under the new CREDITAS ownership.”
ENDS
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About Infracapital
Infracapital invests in, builds and manages a diverse range of essential infrastructure to meet the changing needs of society and support long-term economic growth. We take an active role in all of our investments, whether nascent or large, to fulfil their potential and ensure they are adaptable and resilient. Our approach creates value for our investors, as we target investments with the scope for stable and sustainable growth. Our portfolio companies work closely with the communities where they are based, to the benefit of all stakeholders. Infracapital is well positioned to deliver the significant investment required to help build the future. The founder-led team of experienced specialists has worked with more than 60 companies around Europe and has raised and managed over €9 billion of client capital across seven funds. Infracapital is part of M&G Plc, an international savings and investments business, managing money for around 4.5 million retail customers and more than 900 institutional clients in 38 offices worldwide. Total assets under management are £346.1 billion (as at 30 June 2024).
About Duon
DUON Dystrybucja sp. z o. o. has been operating in the field of energy since 2001 and specializes in supplying network and liquefied natural gas (LNG). Our infrastructure consists of distribution networks and LNG regasification stations. Comprehensive energy solutions are also offered for enterprises based on ecological fuels. Our natural gas is obtained from proven sources, both domestic and foreign.
Beyond natural gas sales and distribution, DUON also offers energy outsourcing (eg. heat supplies and energy efficiency solutions), LNG gas transport services, and temporary power supplies.
About UCED, the energy division of CREDITAS Group
CREDITAS Investment Group has been operating in the field of energy since the year 2013. The group´s energy division UCED is the fourth largest energy distributor in the Czech Republic. Besides energy distribution, the division has been focussing on energy production, heat generation and the provision of balancing services in Czech Republic and Slovakia.