Procuritas partners with Energima to expand energy efficiency initiative
Procuritas Capital Investors VII (Procuritas) acquires a majority share of Energima Gruppen AS (Energima), a leading Norwegian player within indoor climate and energy efficiency with revenues of c. 1.8 billion NOK. Real estate accounts for 40% of the total energy consumption in the Nordic region, and Energima is a key partner for enabling the climate transition for Norwegian property owners and their tenants. Energy efficiency and indoor climate is a core investment theme for Procuritas, following the 2023 investment in Swedish energy efficiency and property services group PropTech Energy.
Founded in 2003 by brothers Arild and Henrik Magnussen, Energima has grown into a leading indoor climate and energy efficiency group, focusing on service contracts and long-term customer relations. The driving force is to deliver the market’s best solutions for commercial buildings, regardless of complexity.
The founders and management now take in Procuritas as a majority owner to continue on the group’s successful growth trajectory. “We have had an interesting and pleasant dialogue with Procuritas for some time and are convinced that they are the right partner for our further development. Through our new partnership, we gain access to their network and extensive experience within buy-and-build growth journeys”, comments Morten Hveding Juel, Energima’s group CEO.
Procuritas sees great opportunities for improving energy efficiency in the Nordic real estate sector, and the investment in Energima marks a continuation of Procuritas’ thematic efforts in the industry. Properties account for around 40% of the countries’ energy consumption, and forthcoming regulatory initiatives on both national and EU level are set to impose new requirements for energy-saving.
“In a rapidly growing market, Energima stands out with their dedication towards providing their customers with the most reliable and efficient services, and they have managed to attract the best talent in the industry. Together we have developed a strategic plan to attain the #1 position in the Nordic market, and we look forward to supporting Energima in improving energy efficiency and indoor climate in the real estate industry,” says Mattias Feiff, Co-Managing Partner at Procuritas. The transaction is subject to approval by the Norwegian competition authority and is expected to be completed during the second quarter of 2024.