I Squared Sells Guatemala Electric Firm Energuate to Threelands

I Squared Capital struck a deal to sell Energuate, an electricity-distribution company in Central America, to Threelands Energy Ltd., the companies said Monday.

Terms of the deal weren’t disclosed. Energuate, a unit of Inkia Energy that focuses on Guatemala, saw its customer base grow to 2.3 million from 1.7 million during I Squared’s ownership.

“We are pleased to have supported Energuate’s growth into a more efficient enterprise,” Gautam Bhandari, a managing partner and chief investment officer at I Squared, said in an emailed statement. He cited a reduction in electricity losses among other operational improvements.

Citigroup Inc. advised Inkia ...