Bolognesi's Brasilterm Energia acquires control of Multiner and Mesa Participações

Rio de Janeiro-based Brasilterm Energia, a thermal power generation company primarily focused on natural gas, has expanded its operational energy portfolio in Brazil by acquiring control of Multiner and Mesa Participações. This undisclosed transaction adds 151.8 MW of operational capacity, including Project Alegria in Guamaré, Rio Grande do Norte, to Brasilterm's assets. The acquisition of a majority stake in these entities provides immediate revenue streams and operational control, diversifying Brasilterm's generation footprint beyond its flagship 565 MW UTE Marlim Azul natural gas plant. This expansion into a new segment of energy generation assets in Brazil is a strategic growth initiative for Brasilterm Energia. For the sellers, Multiner Fundo de Investimento em Participações Multiestratégia (FIP), a Brazilian private equity fund established in 2008 and managed by BTG Pactual, this transaction likely represents a strategic exit from an energy sector equity investment. Santiago-based Multiner S.A., a Chilean company specializing in electrical infrastructure engineering and construction, divests its stake in the generation portfolio, potentially allowing a refocus on its core services of high-voltage transmission lines and substations. The acquisition allows Brasilterm Energia, whose parent Bolognesi is a Lima-based general contractor with over 30 years of infrastructure experience in Peru, to leverage its regional expertise for further expansion within Brazil's energy landscape. This deal demonstrates continued portfolio optimization by financial sponsors and strategic expansion by regional infrastructure players in Brazil.