February 26 2021
Translink advises Nordic water technology company Smartvatten in the sale of a majority stake to Norvestor
Translink Corporate Finance advised Envera Ltd with the sale of a majority stake to Norvestor on behalf of their existing shareholders, including current and former employees, the management, and Taaleri Circular Economy Fund. Envera Ltd is the company behind the market-leading Smartvatten solution - a forerunner in smart water management, offering water and cost savings as well as peace of mind for property professionals, property owners, and housing companies.
Smartvatten is a hardware-enabled SaaS company providing its customers with a complete solution for real-time monitoring and reporting of water consumption in buildings. The water consumption data is gathered from mechanical, digital, and IoT-enabled water meters and analysed by the company’s algorithm-based software. Currently Smartvatten monitors over 7 000 buildings in 15 countries. In recent years, Smartvatten has achieved a leading position in Finland and gained a strong foothold in Sweden and the Benelux countries. The company was founded in 2013, has an ARR of approximately EUR 4.2 million and currently employs c. 40 people.
With the new ownership structure, Smartvatten is able to strengthen its position in its existing markets and accelerate its international expansion with the aim of becoming a Nordic water champion. Following the acquisition, all the company’s key employees, the management as well as Taaleri Circular Economy Fund will remain significant shareholders in Smartvatten.
“Smartvatten is making it easy for customers to reduce their water consumption and climate footprint through a simple but ingenious IoT enabled meter reader providing real-time data and analysis for reporting and consumption-management purposes. We believe that Smartvatten is uniquely positioned to respond to the intensifying focus on responsible use of water resources among customers, and we are enthusiastic about the opportunity to support management in continuing the growth journey to become a true Nordic champion” says Per-Ola Baalerud, partner at Norvestor.
Translink acted as the exclusive financial adviser to Envera Ltd, the sellers, in a comprehensive sales process which included preparation of sales material, global dialogue with potential buyers, a competitive bidding process, and coordinating the extensive due diligence process and contract negotiations. The sellers were very pleased to engage Translink for the process: “I have been on both sides of the negotiation table with Translink and I must say, I prefer being on the same side. This acquisition highlighted some of Translink’s key strengths: negotiating skills, extensive investor networks, and a broad understanding of SaaS businesses. Most importantly, I appreciate the team's entrepreneurial attitude. As a result, the Translink-led process really added value for the shareholders and the company was strengthened by a new competent part-owner” comments Tero Luoma, Partner and Investment Director at Taaleri.
Matti Nevala, COO at Smartvatten, continues: “An M&A transaction is always a long and arduous process. Chemistry between individuals is essential and everyday activities must be efficient. With the experience of several transactions, I can warmly recommend Tero, Juuso and the team. They are real professionals as financial advisors, and therefore understand the business and people extremely well. When you want the best, choose Translink!”
The transaction strengthens Translink’s position as the leading investment bank in SaaS and technology M&A transactions in the Nordics. Previous successful reference includes the deal between Lyyti and Vaaka Partners: Translink acted as financial advisor to the owners of Lyyti when Vaaka Partners invested in the company to accelerate its international expansion.
Translink Corporate Finance Finland, based in Helsinki, is one of the leading M&A boutiques in the Finnish market. Since its foundation more than 15 years ago, their partners completed more than 100 M&A transactions in different industries, worked closely together with a number of business partners and industry players, both locally and internationally. In addition Translink Finland is a Certified Adviser on NASDAQ OMX First North.
Translink Corporate Finance Norway/ Synergos AS is located in Oslo, Norway. It is composed of 6 seasoned finance and M&A professionals who have in-depth experience in a variety of sectors and disciplines.
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