Q-Energy V fund, managed by Q-Energy Private Equity, S.G.E.I.C., S.A. signed a definitive agreement to acquire Heelstone Renewable Energy, LLC from Ares Management Corporation (NYSE:ARES) on January 30, 2024. As part of this endeavor, Heelstone will continue its operations as an independent business within Qualitas Energy, with its best-in-class management team remaining intact. The transaction is expected to close in the coming months, subject to customary regulatory approvals.

Macquarie Capital acted as financial advisor, Lara Hemzaoui, Pierre-Emmanuel Perais, Diana Jeschke, Lauren Bachtel, Will Kim, Andrew Gaines, Janet Lee, Antonia Sherman, Ieuan Jolly, Amanda Gabai, Jose Giménez and Alejandro Meca of Linklaters acted as legal advisor, Black & Veatch acted as technical advisor, Leo Berwick acted as tax advisor, Deloitte acted as financial advisor and Willis Towers Watson acted as insurance advisor to Qualitas Energy. Jefferies LLC and Guggenheim Securities acted as financial advisors; and Morgan Lewis acted as legal advisor to Heelstone in the transaction.