Engagement — Platform Due Diligence
Code & Co. advises Riverside on acquisition of Montel, a Norwegian provider of energy and electricity market information
Code & Co. has provided tech & product due diligence to The Riverside Company (Riverside) as part of its majority-stake investment in Montel AS (Montel).
Through its Montel Online platform, the company leads the way in providing information on the market to energy producers, grid operators, industrial stakeholders, trading firms, and financial institutions across the globe. Riverside’s investment aims to upscale the organization by developing new products and services to grow their market share in the wider energy and electricity sector.
Code & Co. supported Riverside ahead of the majority-stake investment by providing tech & product due diligence, producing in-depth and detailed analysis of Montel’s analytics software and business architecture. Code & Co. also analyzed the company’s online platform, providing insight into its security and scalability capabilities, as well as the business’ wider data strategy, team, and growth roadmap.
“Riverside’s investment is intended to allow Montel to expand its services in a sector that is expected to grow significantly in the coming years. The existing technology and product will serve as a basis for sustainable growth,” said Code & Co. Founding Partner Dan Bender. “Working towards sustainability within the energy sector, its growth should also contribute towards the UN SDGs.”
The partnership between Montel and Riverside is intended to expand the business’ market-leading analytical service offering by developing new products and pursuing selected add-on acquisitions. Riverside also intends to continue to support the company’s focus on sustainable markets and renewable energy, in line with Riverside’s European ESG strategy and several UN Sustainable Development Goals.
Its work on this transaction underlines Code & Co.’s position as a leading technology and product advisor on transatlantic private equity mandates.
About The Riverside Company
The Riverside Company is a global private equity firm focused on investing in growing businesses valued at up to $400 million. Since its founding in 1988, Riverside has made more than 850 investments. The firm's international private equity and structured capital portfolios include more than 140 companies. Riverside Europe is an integral part of the firm’s broad global network and has invested in Europe since 1989. Riverside believes a truly global presence provides exceptional insight into local conditions, culture and business practices, making team members better investors and business partners.
About Montel SA
Since 1997, Montel Online has been providing news and data to the European energy market. It has helped bring transparency to this growing sector for over 20 years. The firm started out as a single news desk based in Oslo, now counting more than 40 journalists across 10 European newsrooms from Berlin to Madrid. Over the years the focus of the coverage has shifted - now with a dedicated Green Desk - but the focus remains the same: energy. The firm reports news in English and complements its coverage with local stories and newsletters in multiple languages. Subscribers can also access online charting tools to visualise a wide range of data. On top of that Montel brings data-driven insights and analysis and helps break down how policy and regulation will affect their business.
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.