Eneas Energy AS, a Lier, Norway-based provider of a range of services aimed at reducing energy costs for the SME sector as well as large corporate and public authorities, has received a NOK 350m investment from Palamon Capital Partners, a European mid-market private equity firm.
Palamom has acquired a majority stake in the company, which employs 350 staff in its operations based in Norway, Sweden and Germany and serves approximately 10,000 customers.
The strategic support of Palamon will help Eneas broaden its reach both through developing a wider product range and expanding geographically.
The business was co-founded in 1995 by CEO, Thomas Hakavik, and sold to Statoil in 2001. In 2005, Mr Hakavik led a group of private investors to buy the company back from Statoil.
In the current transaction, Palamon will replace the private investors and the company’s existing debt facilities will be rolled over. Mr Hakavik and his team will continue to lead the Eneas through its next phase of growth and remain significant shareholders.