Translink Corporate Finance advised Envera Ltd with the sale of a majority stake to the Norwegian Private Equity firm Norvestor on behalf of their existing shareholders, including current and former employees, the management, and Taaleri Circular Economy Fund. Envera Ltd is the company behind the market-leading Smartvatten solution – a forerunner in smart water management, offering water and cost savings as well as peace of mind for property professionals, property owners, and housing companies.
Smartvatten is a hardware-enabled SaaS company providing its customers with a complete solution for real-time monitoring and reporting of water consumption in buildings. The water consumption data is gathered from mechanical, digital, and IoT-enabled water meters and analysed by the company’s algorithm-based software. Currently Smartvatten monitors over 7 000 buildings in 15 countries. In recent years, Smartvatten has achieved a leading position in Finland and gained a strong foothold in Sweden and the Benelux countries. The company was founded in 2013, has an ARR of approximately EUR 4.2 million and currently employs c. 40 people.
With the new ownership structure, Smartvatten is able to strengthen its position in its existing markets and accelerate its international expansion with the aim of becoming a Nordic water champion. Following the acquisition, all the company’s key employees, the management as well as Taaleri Circular Economy Fund will remain significant shareholders in Smartvatten.
Translink acted as the exclusive financial adviser to Envera Ltd, the sellers, in a comprehensive sales process which included preparation of sales material, global dialogue with potential buyers, a competitive bidding process, and coordinating the extensive due diligence process and contract negotiations. The sellers were very pleased to engage Translink for the process:
“I have been on both side of the negotiation table with Translink and I must say, I prefer being on the same side. This acquisition highlighted some of Translink’s key strengths: negotiating skills, extensive investor networks, and a broad understanding of SaaS businesses. Most importantly, I appreciate the team’s entrepreneurial attitude. As a result, the Translink-led process really added value for the shareholders and the company was strengthened by a new competent part-owner” comments Tero Luoma, Partner and Investment Director at Taaleri.
The transaction strengthens Translink’s position as a leading M&A advisor in Nordic SaaS and technology transactions.