Riverside Charged Up by Double Acquisition by Portfolio Company Montel
The Riverside Company, a global private equity investor focused on the smaller end of the middle market, has invested in two add-on acquisitions by its portfolio company Montel AS, a Norwegian provider of energy and electricity market information. Montel has acquired Energy Brainpool, an analytics and consultancy provider to the European power market, and Qwatt, a platform providing data and forecasts regarding power purchase agreements (PPAs), in a double deal that will facilitate considerable expansion of the Montel platform across Europe.
Founded in Berlin in 2003, Energy Brainpool provides data analysis, advisory and training services with a focus on long-term forecasting using its own proprietary model. The company has a leading position in the DACH market and a presence in 13 other European countries, serving clients including traders, utilities, banks, investors, industrial companies and public sector organisations.
Qwatt is a subscription-based benchmarking tool used to estimate the market value of PPAs based on different structures, areas and durations. PPAs underpin the long-term financing of many renewable power projects. The acquisition will allow Montel to strengthen its presence in the growing renewables market, as well as increase its analytics offering.
“We are delighted to have secured these add-ons for Montel, as we continue driving value creation through organic growth supported by an ambitious buy-and-build programme,” said Riverside Europe’s Managing Partner Karsten Langer. “The addition of Energy Brainpool and Qwatt will allow Montel to strengthen its analytical product range, expand the offering of Energy Brainpool to new geographies and use each company’s datasets and competencies to further enhance the value proposition.”
Tom Nyblin, CEO of Montel Group, added: “I am thrilled to welcome EnergyBrainpool and Qwatt to the Montel family. I am excited about collaborating with these highly skilled teams to bolster Montel's capabilities, providing better services to our clients and contributing to the green transition in the energy sector.”
Montel, headquartered in Oslo, provides energy and electricity market information for energy producers, grid operators, financial institutions, trading firms and commercial end-users. The company has one of the strongest suites of full-service energy information services in the market, enjoying high market shares in its key geographies.
Riverside acquired a majority stake in Montel in September 2022, with a plan to grow the organization by capturing market share in a growing sector, developing new products and services and driving geographic expansion, as well as pursuing selective add-on acquisitions. Montel completed its first add-on of EnAppSys, a data and analytics provider to the European energy market, in January 2023.
Working with Langer on the transaction for Riverside were Principal Dan Parksjö, Senior Director Jeroen Lenssen, Associate Nils Mjörnemark and Senior Legal Counsel Peter Parmentier.
Riverside and Montel were advised by Alpha Corporate Finance, LARK, BAHR, Crowe and Code & Co.