Teesside data and analytics specialist acquired by global private equity investor

The Riverside Company, a global private equity investor focused on the smaller end of the middle market, has acquired Teesside based EnAppSys, a data and analytics provider to the European energy market.

The investment is an add-on to Riverside’s Montel AS platform, a Norwegian provider of energy and electricity market information. Founded in 2003 in Middlesbrough, EnAppSys currently serves B2B clients across the energy market, including traders, suppliers, generators, infrastructure businesses and the public sector.

The company has a blue-chip customer base across 12 countries in Europe, plus the USA and UAE, and is the “market leader” in Great Britain, Ireland and the Netherlands.

Riverside Europe’s managing partner Karsten Langer, commented: “We are delighted to have secured our first add-on for Montel, bringing together two highly complementary businesses.

“EnAppSys is extremely strong in GB and Ireland, where Montel has limited operations, and also provides a strong base in Benelux. Similarly, Montel is strong in the Nordics and DACH region, and has a fast-growing presence in France, Iberia and CEE, which will allow the combined group to serve Pan-European markets with a more complete product offering.”

Montel, headquartered in Oslo, provides energy and electricity market information for energy producers, grid operators, financial institutions, trading firms and industrial end-users. The company has one of the strongest suites of full-service energy information services in the market, enjoying high market shares in its key geographies.

In addition to driving geographic expansion, the acquisition of EnAppSys also has a broad and complementary product offering, in particular strengthening Montel’s analytical product portfolio and skills, as well as bringing considerable sales synergies and deep knowledge of intraday traded markets.

EnAppSys directors Paul Verrill and Phil Hewitt, added: “We are excited to be partnering with Montel and Riverside for the next phase of our growth. The European energy market has evolved over recent years through the roll-out of intermittent renewable generation, deregulation, increasing data transparency and interconnection between markets.

“EnAppSys has always had the privilege of working with customers who are at the cutting edge of new flexibility markets, renewable technologies and trading approaches.

“Joining forces with Montel 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 the 30+ markets in Europe.”

By Matthew Neville – Senior Correspondent, Bdaily

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