Pinsent Masons advises Pinergy on its sale to Sojitz Corporation

Pinsent Masons' deep-rooted understanding of the energy sector in Ireland and the multidisciplinary nature of its team helped to successfully bring this transaction to completion.

Founded in 2013, Pinergy supplies both green energy and technology-driven energy solutions including solar photovoltaic installations and electric vehicle charging infrastructure. In 2023, the company reported revenues of €215 million and its electricity supply base is now equivalent to powering 200,000 homes annually.

Under its new ownership, Pinergy will retain the leadership of founder and chief executive Enda Gunnell and Sojitz Corporation will continue to support Pinergy as it scales and expands its capabilities in the renewables space.

Acquiring Pinergy is in clear alignment with Sojitz Corporation's strategy of investing in businesses that deliver renewable energy from generation through to supply of electricity and green energy solutions. Both Pinergy and Sojitz Corporation are committed to helping commercial and residential customers who are navigating the energy transition.

The deal completed within the first two weeks of Ireland's new third country screening regime coming into force. The Pinsent Masons team helped ensure the sale benefitted from the transitional arrangements, completing with one business day to spare before a formal notification and clearance would have been required.

The Pinsent Masons team advising on the sale was led by corporate partners Andrew Kerr and Lisa Early, supported by Ross Mackenzie, Nell Pringle, Gerry Beausang, Maeve O'Brien, Helen Sparrow, Lauren Kelly and Trina Walsh (Corporate), Rob Dever (Tax), Deirdre Lynch (Employment) and Ian Hastings (Competition). Catherine Hemsworth advised the Pinergy management team on their reinvestment and new equity terms.

Commenting on the transaction, Lisa Early said, "We're delighted to have advised Pinergy on the successful completion of this sale. It's fantastic to see a homegrown Irish business like Pinergy grow, flourish and receive the investment needed to meet its future ambitions."