About private equity
How private equity invests in privately-owned businesses, supports jobs and creates prosperity.
Section Highlights
About us
We represent Europe’s private equity, venture capital and infrastructure industry.
Section Highlights
Industry standards
Invest Europe is the guardian of the industry’s professional standards.
Section Highlights
Policy
Working with policymakers to develop legislation that helps drive growth and prosperity.
Section Highlights
Research
The authoritative data source on European private equity activity.
Section Highlights
Events & training
A comprehensive suite of conferences, networking events and training courses.
Section Highlights
News & opinion
Up-to-the-minute policy and industry news, insights and opinions.
Section Highlights
Members
Login to access your exclusive member-only content and account information.
Login
Not a member? Join us
- Operate to the highest level of professional standards
- Access authoritative industry research and data
- Navigate the complex EU regulatory environment
- Network and engage with industry leaders
Redexis Gas, the second largest transmitter and fourth largest distributor of gas in Spain, provides customers with access to an affordable and secure source of energy. The company operates in regions with gas penetration below the Spanish and European averages (est. 28% and 46%, respectively). Affiliates of two GS Infrastructure Partners II funds and certain co-investors acquired Redexis Gas in 2010 from Endesa, S.A., Spain’s largest electric utility company. With GS Infrastructure Partners’ support and a new management team, the company has made significant investments in Spanish natural gas infrastructure over the past five years. Since 2010, Redexis Gas has almost doubled its transmission and distribution network to c. 8,700 km and tripled the municipalities served to over 550, with gas now available in areas with over five million inhabitants.
Fernando Bergasa
Executive President
Redexis Gas
gas connection points
additional employees since 2010
What did the business need?
- A new strategy for a standalone company and a growth plan to increase natural gas penetration
- A focus on improving investment efficiency
- A stable funding base with long-term investors supportive of the company’s new strategic vision
How did private equity backing create lasting value?
- Provided support in hiring a management team with strong experience in the sector
- Encouraged a long-term development plan and accretive capital expenditure
- Helped strengthen best-in-class commercial, operating and HSSE processes
- Assisted Redexis in establishing a long-term capital structure with two bond issues and an EIB loan
- Provided further capital for acquisitions
What outcomes did private equity investment achieve?
- Invested more than €700m to expand transmission and distribution networks
- Almost doubled the length of the network and tripled the number of municipalities served
- Significantly outperformed the sector in growth of connection points
- Increased social impact: the company now generates over 290 direct and 2,000 indirect jobs
- Developed award-winning technology (eg Redexis Gas won the ComputerWorld 2015 Award)