Procuritas invests in Netcontrol
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Stockholm / Helsinki
Procuritas Capital Investors VI (“Procuritas”) has acquired a majority stake in Netcontrol Oy, a well-reputed provider of solutions, systems and services for real-time monitoring, control and automation of utility networks with a leading position in the Nordics and broad international presence. The management team has successfully built the company into a recognized provider of flexible, high quality solutions and will retain a significant minority stake in the company.
“The management team is excited about this new partnership and we are looking forward to working together with Procuritas to continue to develop and grow the business. We are currently in a position with several interesting growth opportunities and an active owner such as Procuritas with clear ambitions, resources to support the growth and experience from assisting companies in similar situations makes the partnership an ideal fit for us.” Says Mikael Nordman, CEO of Netcontrol.
“We have been tracking the energy automation space for a long time and are impressed by the achievements of Netcontrol and the management team. The company’s solutions are increasing in importance for network operators as demand for smart-grid capabilities and high up-time are increasing. Furthermore, the company is well appreciated as an agile, high-quality partner with a wide customer base both in the Nordics and in other regions. We want to build on this solid position and support the company in developing an even stronger offering and to expand the business in the future.” Comments Johan Conradsson, Partner at Procuritas.
Daniel Schuss, Director at Procuritas, adds “Traditionally, energy distribution networks have transferred power in one direction, from centralized power plants to consumers, however networks worldwide are facing significant change due to adoption of distributed renewable energy generation with varying output. The change requires flexibility for network operators through control and intelligent automation, increasing demand for Netcontrol’s solutions.”
For further information, please contact:
Johan Conradsson, Partner, Procuritas Capital Investors VI Holding AB
tel. +46 8 506 143 00
Daniel Schuss, Director, Procuritas Capital Investors VI Holding AB
tel. +46 8 506 143 00
Mikael Nordman, CEO, Netcontrol
tel. +358 20 1520 600
Netcontrol, founded 1991, is a technology provider of intelligent utility network automation solutions. The company is headquartered in Helsinki, Finland, with own offices also in Sweden, Norway and the UK. Customers include electricity companies, renewable energy producers, electric railways, energy intensive industry plants, and district heating plants and pumping stations. Group employs ca. 80 automation professionals and had revenues of around 19 MEUR in 2017.
About Procuritas Capital Investors VI
Procuritas Capital Investors VI is a private equity fund focusing on mid-sized companies in the Nordic region. PCI VI launched in 2017, with ca. MEUR 318 in committed capital. With a passion for business, extensive industrial experience and more than thirty years’ track record covering a large variety of transactions, Procuritas has supported over 40 companies with the aim to accelerate their growth and realize their true business potential.