Arendals Fossekompani, Advent International (Advent) and Generation Investment Management (Generation) have, through their indirect subsidiary Edison Bidco, completed the voluntary tender offer for the shares in Volue.
Arendals Fossekompani, Advent and Generation announced in July the voluntary cash offer for all the shares in Volue with the intention to assist the Company in its next phase of growth as a leading supplier of software and data solutions to the energy and infrastructure sectors.
Trond Straume, CEO at Volue, comments: 'We are thrilled that the transaction has now been completed, and we are looking forward to working with our new owners to help deliver our vision for the future. It has been a pleasure to work with Arendals Fossekompani so far, and we are excited to leverage Advent and Generation’s additional industry expertise and insight. This partnership will strengthen our platform, enabling us to offer even more compelling solutions for our customers and new opportunities for our employees.'
Arendals Fossekompani, Advent and Generation bring highly complementary expertise to a long-term partnership, ensuring continuity and preservation of established company values, while simultaneously integrating fresh and innovative perspectives. The company is well positioned for further growth, both organically and through acquisitions.
Benjamin Golding, CEO at Arendals Fossekompani, comments: 'The ongoing energy transition presents substantial growth opportunities for Volue. Together with Advent and Generation we have now established a long-term partnership that will enable the company to achieve its ambitious goals to capture these opportunities. We are confident our joint strategic ownership will contribute significantly to accelerate Volue’s growth and value creation.'
Douglas Hallstrom, Director at Advent International, comments: 'We are delighted to support Volue in capitalizing on the expanding market opportunities presented by the energy transition. Advent’s long history of investing in the tech sector will be complemented by the knowledge and capabilities of our partners in this investment.'
Martin Vieider, Assistant Director at Advent International, adds: 'We are very pleased that the shareholders of Volue have accepted our offer, and we look forward to collaborating closely with Volue’s talented management team. As one of the global leaders in energy management software, Volue represents an exciting opportunity for growth and innovation. Advent, AFK and Generation have built a strong partnership and share a joint vision for Volue and its future.'
Dave Easton, Growth Equity Partner at Generation Investment Management, concludes: 'Today welcomes a new chapter for Volue. This is a critical time during the renewable energy transition, and we believe the company is in a prime position to play a key role in this transformation. By combining Volue’s innovative energy software, our investor partners’ industry leading expertise, and Generation’s experience in sustainable investing and growth creation, we aim to work together to achieve a more adaptable and digitalized energy infrastructure.'
About Volue ASA
Volue is a market leader in software and data solutions that power the energy transition. Based on 50 years of experience, Volue provides innovative solutions, systems, and insights for industries critical to society. Over 800 employees work with more than 2,500 customers across energy, power grid, water and infrastructure projects that ensure a sustainable, flexible, and reliable future. The company is headquartered in Oslo, Norway, and is active in 40+ countries.
Source: Volue
