Equitix’s Finnish electricity distribution network business Aurora Infrastructure agrees to acquire Terrafame’s electrical network assets

Equitix is pleased to announce that its portfolio company Aurora Infrastructure has signed an agreement to acquire the high and medium voltage electricity distribution network assets of Terrafame and enter into a long-term sale-and-leaseback contract.

Terrafame owns the integrated Kuusilampi mine and metals production facility in Sotkamo, Finland and is majority owned by the Finnish Minerals Group, a subsidiary of the Finnish Government. Founded in 2015, Terrafame operates an integrated production process from its own mine to a battery chemicals plant on a single industrial site. The core of its operations is the production of battery chemicals for the global electric vehicle battery industry. It has a large portfolio of global operating customers who value responsibly produced battery chemicals. The company achieved the second highest gold rating in the EcoVadis assessment, demonstrating its commitment to sustainability.

The acquisition of Terrafame’s network assets marks an important step in expanding Aurora’s growing portfolio of non-regulated electrical networks. Equitix acquired Aurora Infrastructure in June 2022 – Finland’s leading platform operating strategic industrial electricity distribution networks in Finland. Equitix works in close collaboration with Aurora to strengthen its platform and deliver growth that complements the risk/return profile of its existing portfolio already backed by high-quality customers such as Neste, Outokumpu, and Nokia. Post-transaction Aurora will have grown its RAV asset base by 35% since its acquisition by Equitix.

This latest transaction is expected to complete by 29 May 2026.

Achal Bhuwania, Equitix CIO, said:
“Expanding Aurora through this acquisition underlines how we build value through the power of strategic partnerships and disciplined capital deployment. By working closely with high-quality industrial counterparties such as Terrafame, we are able to support their long-term growth ambitions while expanding Aurora in a measured and responsible way. This approach is central to how Equitix builds resilient infrastructure platforms and delivers sustainable growth across Europe’s mid-market.”

Robin Lindahl, Aurora CEO, said: “The strategic partnership with Terrafame is an important milestone for Aurora Infrastructure in Finland. It shows that our way of working can support our customers’ strategy execution and ensure investments in growth and competitiveness. This agreement is also a significant step forward in our company’s growth strategy for the Nordic countries.”

Antti Koulumies, Terrafame CEO, said: “Aurora Infrastructure is an ideal long-term partner for us, considering their expertise in industrial electricity distribution and their strong balance sheet. The strategic partnership frees up significant assets for Terrafame’s strategy execution.”