Gimv and its co-investors, SRIW and founding partners Bruno Venanzi and Bruno Vanderschueren, have agreed to sell 100% of Lampiris with Total, a leading oil and gas companies and the second largest operator in solar energy. Gimv through the Gimv-XL fund is a shareholder of the company since 2013.
Founded in 2003 by Bruno and Bruno Venanzi Vanderschueren, Lampiris (www.lampiris.be) is a supplier independent Belgian electricity and gas, with about 850,000 meters in the country. Since the entry of the capital Gimv in 2013, Lampiris also operates in France, where it has emerged as a fast growing challenger today with 200,000 meters. It also provides energy services such that insulation, firewood and pellets, smart thermostats or maintenance of boilers.
A solid foundation for further growth in Belgium and France in the residential market
In the perspective of a market consolidation and to leverage potential economies of scale, Lampiris and its shareholders have explored different scenarios. The transaction was announced today is perfectly in Total’s ambition to strengthen its integrated model across the gas chain and electricity and move closer to the end consumer. With a portfolio of more than one million customers, Lampiris Total brings strong expertise in customer relationship and a powerful digital platform to continue to develop.
Dirk Dewals, Partner at Gimv, about this transaction: “In recent years, Lampiris has grown from a entrepreneurial challenger position in the Belgian energy market with that provider professional energy, with a strong market share, quality customer portfolio and offer attractive product. The acquisition by Total of Lampiris offers the company a unique opportunity to continue its growth, supported by a strong industrial group that is rapidly developing its integrated gas and electricity supply. We are proud to have actively participated in this transition and thank our co-shareholders and management of the company for this fruitful collaboration. “
For Gimv, this output will have a net positive impact of € 3.5 million on the equity value at 31 March 2016. Over the whole period, this investment has outperformed the average return in the long term Gimv. No further financial details will be revealed about this transaction.
The transaction is expected to close in the third quarter, subject to customary closing conditions.
For more information, see the press release of the company attached.
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