Tiger Infrastructure Partners Sells Stake In Zenobe To KKR And Infracapital

(RTTNews) - Private equity firm Tiger Infrastructure Partners Thursday said it has sold its stake in battery storage company Zenobe to KKR & Co. Inc. (KKR) and Zenobe's existing shareholder, Infracapital.

Investment firm KKR, and infrastructure investments provider Infracapital have formed a partnership to invest about GBP 600 million and GBP 270 million, respectively, in Zenobe.

"In this next phase of development for Zenobe and the industry, we'll seize on the competitive advantage of the technology we have developed internally and with our suppliers as well as the synergies between our battery storage and fleet electrification businesses and our presence in multiple fast-growth markets as we expand beyond the UK, Australia, New Zealand into Continental Europe and the US," said Nicholas Beatty, Co-Founder and Director, Zenobe.

The transaction is expected to close in the fourth quarter of this year.