Engagement — Add-on Due Diligence
Code & Co. advises Riverside and Montel Group ahead of their acquisition of data and analytics provider EnAppSys.
With a view to boosting the analytical product portfolio and skills of its majority stake acquisition, Montel, while also adding considerable sales synergies and deep knowledge of intraday traded markets, Riverside has acquired EnAppSys, which possesses valuable and deep knowledge of renewable generation characteristics and potential grid constraints.
The rollout of intermittent renewable generation, deregulation, an increase in data transparency, and market interconnection has contributed to the evolution of the European energy market in recent years.
With its initial majority stake acquisition of Montel and its recent acquisition of EnAppSys, Riverside aims to support businesses in reducing emissions. More specifically, EnAppSys’ extensive sector knowledge will help enterprises balance energy demand and supply more efficiently. Furthermore, given the strongly fluctuating renewable energy supply, short term trading data provided by EnAppSys will play a critical role in efficient energy allocation. Ultimately, this will ensure the lowest cost green transition for consumers.
Scope of Work
Code & Co. provided Tech & Product Due Diligence to Riverside and Montel ahead of their acquisition of EnAppSys. This involved assessing the target's architecture and infrastructure, scalability, security and resilience, organization and its product-strategic growth plans.
The Riverside Company is a global private equity investor focused on the smaller end of the middle market. By partnering with sellers who are keen to remain on board, Riverside helps drive growth through fundamental operating improvements and add-on acquisitions. Riverside has more than 870 investments and strives to grow companies organically via new products, expanding markets, enhanced operations, and improved processes.
Founded in 2003 in Middlesbrough, UK, EnAppSys currently serves B2B clients across the energy market, including traders, suppliers, generators, infrastructure businesses and the public sector. The company has a blue-chip customer base across 12 countries in Europe, plus the USA and UAE, and is the market leader in Great Britain, Ireland, and the Netherlands.
About Code & Co.
Code & Co. is an independent advisory firm that specializes in providing modern, actionable Tech & Product Due Diligence for the global alternative investment industry. Our expertise uncovers risks that threaten asset value and opportunities to accelerate growth.