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Renovalia solar panels in Puertollano, Spain.[/caption] Renovalia Energy was created more than ten years ago in Villarrobledo, Spain, to provide electricity for the industrial company of the Ortega Martínez family, Grupo Forlasa. In a major strategic turnaround, the Ortega family subsequently moved away from its Forlasa dairy business to focus its efforts on renewable energy. Grupo Forlasa was created in 1970 by Bernardo Ortega. The French company Lactalis took over Ortega’s Grupo Forlasa in 2010. Juan Domingo Ortega, the family patriarch and Renovalia’s president, died in 2014. In conjunction with its acquisition of Renovalia, Cerberus also said that Jose Luis Marín has joined as chairman of the firm’s renewable energy investments business. Marín has extensive professional experience in both the industrial and energy sectors, including 17 years with Endesa where his most recent responsibilities were as CEO of Endesa Diversificación and president and CEO of Endesa Red. “We are pleased to welcome Jose Luis Marín to the firm, where his extensive industry experience will be a great asset,” said Lee Millstein, Head of European Investments. “Along with our recent acquisitions, this move significantly advances our renewable energy investment strategy in Europe. We look forward to growing owned operating assets and expanding Renovalia’s asset management and operation and maintenance (“O&M”) capabilities globally.” Cerberus was advised on legal matters by Watson Farley & Williams LLP and Ashurst LLP. Financial due diligence was provided by KPMG, technical due diligence by G-advisory, and insurance by Aon Insurance. Renovalia was advised on legal matters by Bird & Bird LLP. Cerberus Capital Management, L.P. is one of the world’s leading private investment firms. Founded in 1992 by its CEO Steve Feinberg, Cerberus has more than $29 billion under management invested in four primary strategies: private equity; real estate-related investments; commercial mid-market lending; and distressed securities & assets. Cerberus (Kerberos in Greek) is named after a mythological three-headed dog. The firm is headquartered in New York City and has a large network of affiliate and advisory offices in the U.S., Europe and Asia. Cerberus invests in multiple sectors around the world. Former U.S. Vice President Dan Quayle, serves as chairman of the firm’s global investments, and former U.S. Secretary of the Treasury John W. Snow, serves as the firm’s chairman.  ]]>