Riverside acquires Norwegian electricity market information provider
Munich, Germany — The Riverside Company, a global private equity investor focused on the lower middle market, has signed a definitive agreement to acquire a majority stake in Montel AS (Montel), a Norwegian energy and power market information provider owned by its founder and manager.
Montel, headquartered in Oslo, is an international niche market leader providing energy and power market information to energy producers, grid operators, financial institutions, trading companies and industrial end users. The company’s services are primarily delivered through its proprietary Montel Online subscription-based platform and include energy market news and real-time and historical trading data.
Montel provides full-service energy information services and is the only focused provider of energy market information services.
“This acquisition fits well with our investment strategy. “Montel is a true ’small market leader’ in the energy information market and we believe the company is perfectly positioned to benefit from the shift from fossil fuels to renewable energy sources in many parts of the economy,” said Karsten Langer, Managing Partner of Riverside Europe. “We are pleased to invest alongside the founder and management team, who will remain with the company and continue to play an important role in the company’s growth in the years to come.”
Riverside will support Montel’s growth by scaling the organization to further gain share in a growing market, developing new products and services, and driving geographic expansion. In addition, the Group will make selective acquisitions to expand its range of analytical services.
Montel’s activities are highly aligned with various ESG aspects and the UN Sustainable Development Goals, as its services help companies gain a better understanding of their energy consumption so they can take action to reduce the causes of climate change in the longer term and enable a smooth transition to renewable energy consumption.
“We are excited to partner with Riverside in Montel’s next phase of growth,” said Tom Nyblin, CEO of Montel. “In general, the demand for information services and analysis for the electricity market is expected to increase sharply in the future. By joining forces with Riverside, Montel is in a strong position to capitalize on these trends.”
Working with Langer on the transaction for Riverside were Senior Partner Dr. Michael Weber, Vice President Dan Parksjö, Senior Director Jeroen Lenssen, Operating Partner Julian Heerdegen and Senior Legal Counsel Peter Parmentier. Principal, Origination, Ali Al Alaf brokered the transaction for Riverside. — The closing of the transaction is subject to customary regulatory approvals.
BAHR, Allen & Overy, Hannes Snellman Bain & Company, PWC, Deloitte and Code & Co. advised, while the company and its shareholders were advised by Alpha Corporate Finance, Wiersholm and BDO.
The Riverside Company
The Riverside Company is a global private equity firm focused on investments in middle-market growth companies valued at up to $400 million. Since its founding in 1988, Riverside has made over 870 investments. Riverside’s international private equity and structured capital portfolios include over 130 companies. Riverside Europe is an integral part of the company’s global network and has been investing in Europe since 1989. Riverside believes this global presence provides exceptional insight into local conditions, culture and business practices, making the Riverside team better investors and business partners.