Nordhaven advised the shareholders of Greene in a sale to Norvestor backed VENI Energy Group

16 sept 2021

Nordhaven advised Greene and its shareholders in the sale of the company to VENI Energy Group which is backed by Nordic private equity investor Norvestor. Greene is one of the leading energy sourcing service providers in the Nordics, serving approximately 3,000 Finnish and Swedish SMEs with over 500 GWh of energy annually. In addition, the company provides services related to green energy sourcing and certificates.

Through the transaction, VENI Energy Group became the clear market leader in Finland and the transaction strengthened its strategic position in the Swedish markets. The combined entity has further capacity and capabilities to develop services for Greene’s customers.

VENI Energy Group is a leading Nordic player in energy services and sourcing, securing annually more than 8TWh of electricity for more than 40,000 corporate customers in Finland, Sweden and Norway. In addition to energy sourcing services VENI Energy Group offers protection against energy price volatility, energy invoice audits, energy management and smart metering services to property owners. VENI Energy Group has a sales level of approx. €100 million.

Our business model is complex, and the argumentation of our outlook is not the simplest. Nordhaven played very crucial role in helping the potential buyers to truly understand our business and its potential. In this case this was the largest contributor to the outstanding outcome of the sales process”, says Matti Koskelo, Chairman and one of the owners of Greene.

Since Covid-19 started Nordhaven has closed more than 20 sell-side transactions with successful results. Most of these have been cross-border transactions where our clients have benefitted from our strong international reach”, says Ari Leppänen, Partner at Nordhaven.

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