The Spanish independent supplier of electricity and gas executes its internationalization strategy by entering the Dutch market with the acquisition of a controlling interest in MAIN Energie from Parcom Capital, a private equity fund operating in the Benelux
MAIN Energie is an independent supplier of electricity and gas specialized on SMEs and Real Estate with over 60,000 clients in the Dutch market and a commercial strategy and business goals in line with Audax. This acquisition of MAIN Energie is part of Audax’s strategic plan to create a pan-European energy group, with presence in Spain, Portugal, Italy, Poland, Germany and in the Netherlands.
Audax objective is to harvest the synergies between the two companies, to benefit from the competitive advantages that MAIN Energie provides and to use MAIN Energie as a platform for future growth in Northern Europe.
This acquisition will allow Audax Energía to enter the Dutch market with over 850,000 SMEs – key target client group for Audax Energía – through a company with a clear B2B focus.
The key factors that have led Audax Energía to invest in MAIN Energie are (i) its strong technological platform and it’s continuous drive to innovate; (ii) its experienced management team with a clear vision towards an unique and proven sales model and their unmatched ability to adapt to their customers with a more personal approach and (iii) its significant growth over the last years in this competitive market.
MAIN Energie management states: “We are delighted with our new Spanish partner and are looking forward to the (international) opportunities the combinations offers. With the exchange of expertise and technologies we will be able to further improve our excellent service and competitive proposition towards our customers in the long term”.
Parcom Capital comments: “We are pleased that MAIN has teamed up with such a strategic shareholder like Audax with an ambition to further accelerate the international growth of the platform. Together with MAIN Energie management we have successfully increased the focus of the company towards a value added B2B energy management services provider and broadened its innovative product and service offering”.
ING has acted as sole financial advisor to Audax Energía in this transaction.
With the acquisition, Audax Energía -a company with 100% Spanish ownership- further strengthens the internationalization of the Group, which is one of its core strategic goals. As of 2016, 30% of Audax Energía turnover was generated in Portugal, Italy, Germany and Poland. For 2017, the Group expects to increase international revenues to over 40%.
Audax Energía remains orienting on further potential international expansion opportunities in either Europe and Latin America.