Horizon Acquisition has completed the acquisition of Florida-based APR Energy, The Wall Street Journal reports. U.K. financier Hugh Osmond’s listed cash-shell paid a total of $855 million for the acquisition. Post the deal, APR will be merged with Horizon, which will be rebranded to APR Energy.
The new company will have $275 million on its balance sheet to invest in APR’s existing fleet. Horizon’s current shareholders will hold a 59% in the new company, while George Soros and Madeleine Albright, who invested in APR in early 2011, will own 14% and 13% respectively and the APR management will hold around 12%.
