Arendals Fossekompani, Advent International, and Generation Investment Management, operating through their subsidiary Edison Bidco, have completed the voluntary tender offer for shares in the energy software company Volue.
The three firms announced the offer in July, intending to support Volue’s growth as a provider of software and data solutions for the energy and infrastructure sectors.
Volue CEO Trond Straume expressed optimism about the new ownership: “We are thrilled that the transaction has now been completed, and we are looking forward to working with our new owners to help deliver our vision for the future. It has been a pleasure to work with Arendals Fossekompani so far, and we are excited to leverage Advent and Generation’s additional industry expertise and insight. This partnership will strengthen our platform, enabling us to offer even more compelling solutions for our customers and new opportunities for our employees.”
The partnership brings together a range of expertise from Arendals Fossekompani, Advent, and Generation, with an aim to balance continuity with new perspectives. The combined resources are expected to drive Volue’s growth, both organically and through acquisitions.
Benjamin Golding, CEO of Arendals Fossekompani, highlighted the strategic opportunity presented by the transition to renewable energy. “The ongoing energy transition presents substantial growth opportunities for Volue,” he said. “Together with Advent and Generation, we have now established a long-term partnership that will enable the company to achieve its ambitious goals to capture these opportunities. We are confident our joint strategic ownership will contribute significantly to accelerate Volue’s growth and value creation.”
Douglas Hallstrom, Director at Advent International, added: “We are delighted to support Volue in capitalizing on the expanding market opportunities presented by the energy transition. Advent’s long history of investing in the tech sector will be complemented by the knowledge and capabilities of our partners in this investment.”
Martin Vieider, Assistant Director at Advent, noted the shareholders’ positive response to the offer: “We are very pleased that the shareholders of Volue have accepted our offer, and we look forward to collaborating closely with Volue’s talented management team. As one of the global leaders in energy management software, Volue represents an exciting opportunity for growth and innovation.”
Dave Easton, Growth Equity Partner at Generation Investment Management, concluded by emphasizing the company’s positioning within the energy sector’s transformation. “Today welcomes a new chapter for Volue,” he stated. “This is a critical time during the renewable energy transition, and we believe the company is in a prime position to play a key role in this transformation. By combining Volue’s innovative energy software, our investor partners’ industry-leading expertise, and Generation’s experience in sustainable investing and growth creation, we aim to work together to achieve a more adaptable and digitalized energy infrastructure.”
