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Riverside buys majority stake in Montel

Elkraft

14 Jun 2022 06:30

14 Jun 2022 06:30

(Montel) The Riverside Company, a global private equity investor, has acquired a majority stake in Montel, it said on Tuesday. 

The companies did not disclose any financial details of the transaction, and the deal is subject to customary regulatory approvals. 

Montel was well positioned to benefit from the shift from fossil fuels to renewable power sources in many parts of the economy, said Riverside Europe managing partner Karsten Langer.

“This acquisition resonates well with our investment strategy,” he added.

The company’s founder and managers will remain with the business and continue to play an integral role in the coming years, Langer said. 

"Supporting growth"

Riverside will support Montel’s growth through the development of new products and services and driving geographic expansion. In addition, the group will pursue selective add-on acquisitions to broaden the analytical service offering, the investment company said.

“The demand for power market information services and analytics is expected to experience strong growth going forward, and joining forces with Riverside puts Montel in a strong position to benefit from these trends,” said Montel CEO Tom Nyblin.

Montel, headquartered in Oslo, provides energy and electricity market information for energy producers, grid operators, financial institutions, trading firms and industrial end-users.

The Riverside Company was founded in 1988 and is focused on investing in growing businesses valued at up to USD 400m. Riverside Europe has invested in the region since 1989.

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