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NPM Capital sells Groendus to consortium of APG and OMERS Infrastructure | NPM Capital

May 18, 2022
NPM Capital sells Groendus to consortium of APG and OMERS Infrastructure | NPM Capital

Investment company NPM Capital has decided to sell Groendus, the sustainable energy business, to a consortium of APG and OMERS Infrastructure. Groendus was formed in March 2021 as a consolidation of six companies active in solar power, (smart) metering and energy services. Groendus serves its clients with an integrated proposition that facilitates the shift toward 100% sustainable energy, and thereby accelerates the transition to a sustainable energy system. The financial details of the agreement were not disclosed.

Starting in 2019, several companies active in sustainable energy were acquired by NPM with the goal of developing a combined green energy proposition. This group of companies was integrated in 2021 and continued under the name Groendus. Groendus now employs 130 people at its headquarters in Utrecht and has grown into a leading player in sustainable energy, counting more than 4,000 businesses, municipalities, and institutions among its clients. Put together, these clients represent more than 170 MWp of installed capacity for solar power generation, more than 42,000 connections to the Mijn.Groendus platform for insight in energy use and savings potential, and more than 12,000 smart meters for larger electricity users. In addition, over 250 business locations now have direct access to sustainably produced energy through the Groendus Energy Marketplace – without the involvement of traditional energy suppliers. The current management team of Groendus, led by CEO René Raaijmakers, remains in place.

René Raaijmakers, Groendus CEO, said: “We are very grateful to NPM Capital and to our Supervisory Board for their support and confidence over the past years. Their invaluable contribution has helped Groendus become what it is today. Through our sustainable energy sources, the insights we provide through our smart energy platform and through our unique Energy Marketplace, we can make a significant contribution to the sustainable energy transition alongside our clients. We have grown into a solid business with a clear mission and vision, and we are well-equipped to leverage our platform to realise further growth. We are very happy that NPM Capital has facilitated the acquisition of Groendus by APG & OMERS Infrastructure. This heralds a new era for Groendus. The investment power and long-term vision of these pension funds will enable us to intensify and accelerate our efforts to further expand our services to our clients.”

Jeroen de Haas, chairman of the Supervisory Board of Groendus and advisor to NPM on the investment theme Sustainable Future, said: “The current energy system is going through a massive overhaul. That transformation is not only about green energy production through wind and solar sources, but it also covers power storage and smart connectivity to monitor and manage the market's power consumption. For clients, this new sustainable energy grid is associated with additional complexity, and the market is in dire need of a partner who can help clients seize opportunities and make the transition to 100% sustainable energy. I am proud that we were able to build up that partner for sustainable energy over the past three years, together with the Groendus management and NPM. It is encouraging to see that with this transaction, APG and OMERS are demonstrating their confidence in Groendus' significant further growth potential.”

Leonard van Loon, Investment Director of NPM Capital, said: “We are parting sooner than expected, but we are proud of what Groendus has achieved since we started with a number of acquisitions in large-scale solar projects three years ago. It has been a pleasure to work with Jeroen de Haas and the Groendus management. We built a broad market proposition together, resulting in a leading innovative company in the sustainable energy industry. For NPM, this investment was an extension of our strategic investment theme Sustainable Future. Through our investments within this theme, we aim to make an active and relevant impact on sustainability. We thank René Raaijmakers (CEO) and Daan Bouwman (CFO) for their incredible commitment to making this effort a successful one. With the consortium of APG and OMERS Infrastructure, Groendus will have a solid and ambitious new shareholder and a healthy foundation for further growth. We wish the new owners and all the people at Groendus every success.”


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