Arendals Fossekompani, Advent International and Generation Investment Management complete the acquisition of Volue
Oslo/London, 28 October 2024
Arendals Fossekompani, Advent International (Advent) and Generation Investment Management (Generation) have, through their indirect subsidiary Edison Bidco, completed the voluntary tender offer for the shares in Volue (the Company).
Arendals Fossekompani, Advent and Generation announced in July the voluntary cash offer for all the shares in Volue with the intention to assist the Company in its next phase of growth as a leading supplier of software and data solutions to the energy and infrastructure sectors.
Trond Straume, CEO at Volue, comments: “We are thrilled that the transaction has now been completed, and we are looking forward to working with our new owners to help deliver our vision for the future. It has been a pleasure to work with Arendals Fossekompani so far, and we are excited to leverage Advent and Generation’s additional industry expertise and insight. This partnership will strengthen our platform, enabling us to offer even more compelling solutions for our customers and new opportunities for our employees.”
Arendals Fossekompani, Advent and Generation bring highly complementary expertise to a long-term partnership, ensuring continuity and preservation of established company values, while simultaneously integrating fresh and innovative perspectives. The company is well positioned for further growth, both organically and through acquisitions.
Benjamin Golding, CEO at Arendals Fossekompani, comments: “The ongoing energy transition presents substantial growth opportunities for Volue. Together with Advent and Generation we have now established a long-term partnership that will enable the company to achieve its ambitious goals to capture these opportunities. We are confident our joint strategic ownership will contribute significantly to accelerate Volue’s growth and value creation.”
Douglas Hallstrom, Director at Advent International, comments: “We are delighted to support Volue in capitalizing on the expanding market opportunities presented by the energy transition. Advent’s long history of investing in the tech sector will be complemented by the knowledge and capabilities of our partners in this investment.”
Martin Vieider, Assistant Director at Advent International, adds: "We are very pleased that the shareholders of Volue have accepted our offer, and we look forward to collaborating closely with Volue’s talented management team. As one of the global leaders in energy management software, Volue represents an exciting opportunity for growth and innovation. Advent, AFK and Generation have built a strong partnership and share a joint vision for Volue and its future."
Dave Easton, Growth Equity Partner at Generation Investment Management, concludes: “Today welcomes a new chapter for Volue. This is a critical time during the renewable energy transition, and we believe the company is in a prime position to play a key role in this transformation. By combining Volue’s innovative energy software, our investor partners’ industry leading expertise, and Generation’s experience in sustainable investing and growth creation, we aim to work together to achieve a more adaptable and digitalized energy infrastructure.”
About
About Volue ASA
Volue is a market leader in software and data solutions that power the energy transition. Based on 50 years of experience, Volue provides innovative solutions, systems, and insights for industries critical to society. Over 800 employees work with more than 2,500 customers across energy, power grid, water and infrastructure projects that ensure a sustainable, flexible, and reliable future. The company is headquartered in Oslo, Norway, and is active in 40+ countries.
About Arendals Fossekompani ASA
Arendals Fossekompani is an industrial investment company that owns energy and technology-related companies which enable the energy transition and develop next generation industrial technologies. We operate globally in several forward-thinking industries, such as B2B software and analytics, satellite communications, induction technology and industrial 3D printing. Established in 1896, Arendals Fossekompani has been a proud producer of renewable hydro power for more than 100 years. Our company is headquartered in Arendal, Norway and has been listed at the Oslo Stock Exchange since 1913.For more information, visit www.arendalsfossekompani.no
About Advent International
Founded in 1984, Advent International is one of the largest and most experienced global private equity investors. The firm has invested in 421 private equity investments across 43 countries and, as of March 31, 2024, had $90 billion in assets under management*. With 15 offices in 12 countries, Advent has established a globally integrated team of over 315 private equity investment professionals across North America, Europe, Latin America, and Asia. The firm focuses on investments in five core sectors, including business and financial services; health care; industrial; retail, consumer, and leisure; and technology. For 40 years, Advent has been dedicated to international investing and remains committed to partnering with management teams to deliver sustained revenue and earnings growth for its portfolio companies. For more information, visit www.adventinternational.com
* Assets under management include assets attributable to Advent advisory clients as well as employee and third-party co-investment vehicles.
About Generation Investment Management
Generation Investment Management LLP is dedicated to long-term investing, integrated sustainability research and client alignment. It is an independent, private, owner-managed partnership established in 2004 and headquartered in London, with a US presence in San Francisco. Its vision is a sustainable world in which prosperity is shared broadly, in a society that achieves wellbeing for all, protects nature and preserves a habitable climate. Generation’s Growth Equity strategy invests in companies with proven technology and commercial traction, run by talented mission-driven management teams. The strategy seeks to identify companies which will be on the right side of the structural social and economic changes that are already under way. Our shorthand for this is “system positive.”
For more information, visit www.generationim.com