A North East consultancy which provides insights into the European energy market has been snapped up by a global investor.
The Riverside Company has acquired Stockton-based EnAppSys, which serves B2B clients across the energy market. The new owners, a private equity investor focused on the smaller end of the middle market, said EnAppSys will be an add-on to its Montel AS platform, a Norwegian provider of energy and electricity market information.
Launched in 2003, EnAppSys provides data, consultancy and information services to companies in the energy and power generation markets. Its services are used by some of the biggest wholesale energy market participants to improve their understanding of the market and maximise values.
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Well established in the UK, the company also operates across several European markets, including Belgium, France, the Netherlands and Ireland, and the firm also recently signed a lease on an office in Dusseldorf, Germany, and appointed a specialist in Hungary to cover Central Eastern Europe. The value of the deal has not been disclosed.
EnAppSys directors Paul Verrill and Phil Hewitt said: “EnAppSys has always had the privilege of working with customers at the cutting edge of new flexibility markets, renewable technologies and trading approaches. Joining forces will enable us to deepen those relationships in our core markets and bring our experience in intermittent renewable dominated markets, data services and insights across markets in Europe.”
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Riverside Europe’s managing partner Karsten Langer said: “We are delighted to have secured our first add-on for Montel, bringing together two highly complementary businesses.”
Montel chief executive Tom Nyblin added: “EnAppSys will help us enhance Montel’s ability to support businesses in reducing emissions. The company has deep knowledge of renewable generation characteristics and potential grid constraints and is able to help enterprises balance energy demand and supply more efficiently. Given the strong fluctuation of the supply of renewable energy, EnAppSys’ short-term trading data is critical in its efficient allocation, and therefore in enabling the green transition at the lowest cost to consumers.”
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