Posted 17 July 2020
Trill Impact has signed an agreement to acquire Nordomatic, a leading Building Management System (“BMS”) integrator in the Nordic region, from Adelis.
Nordomatic offers BMS solutions for new projects, retrofits, upgrades and services including cloud-based smart systems. The company has experienced substantial growth in recent years and in 2019 generated pro-forma revenues about SEK 880m (EUR 85m). Nordomatic was founded in 1967 and is headquartered in Stockholm with more than 400 full-time employees at 20 locations in Sweden, Denmark and Norway.
Nordomatic’s services and products actively contribute to reducing energy consumption and improving indoor climate for property owners. As a leader in Impact Private Equity, Trill Impact will endeavour to support Nordomatic’s continued expansion and accelerate the company’s already strong impact footprint.
“We believe Nordomatic offers an ideal platform to pursue our impact and commercial ambitions, which we fundamentally see as being closely interlinked. Management has done a great job in creating a Nordic champion in an industry which we think will experience strong growth going forward.” commented Samir Kamal, Partner at Trill Impact.
"I welcome Trill Impact as the new majority owner of Nordomatic. Together, we will further develop the business and strengthen our international competitiveness. Realizing and measuring energy efficiency and other sustainability goals in close collaboration with our customers feels value-creating, meaningful and modern. We strive to become an ‘impact leader’”, stated Olov Schagerlund, CEO of Nordomatic.
The parties have agreed not to disclose the financial terms of the transaction.
1. Sustainable Development Goals: www.un.org/sustainabledevelopment/sustainable-development-goals/
2. Data from European Commission 2030 Climate & Energy Framework
This material has been prepared for informational purposes only. All statements and opinions included herein are subject to change as economic and market conditions dictate. There can be no assurance that any views, outlooks, or forward-looking statements will come to pass.
SDG and Impact contribution
Nordomatic’s products and related services have the potential to provide a strong and direct contribution to SDG #7.3 (By 2030, double the global rate of improvement in energy efficiency) and SDG #11 (Sustainable Cities and Communities) and SDG #13 (Take urgent action to combat climate change and its impacts). Buildings represent 40% of the EU’s energy consumption and 36% of CO2emissions2 and Nordomatic’s solutions can provide a significant lever for improvements in these areas. As almost 75% of the building stock is energy inefficient2, intelligent BMS systems can make a significant positive impact.
Trill Impact is a private equity firm targeting mid-sized companies in Northern Europe with the potential to accelerate value creation while contributing to the Sustainable Development Goals. Trill Impact aims for a global leadership in Impact Private Equity through its active and proprietary impact investing and ownership approach. Trill Impact was founded by Jan Ståhlberg in 2019.
Nordomatic is a leading independent partner for property owners in building automation focusing on “smart buildings” and energy efficiency with a presence in Sweden, Denmark and Norway. Nordomatic offers full life-cycle capabilities for its customers – from new project integrations, retrofits and upgrades to aftermarket service and support. Its BMS solutions integrate and manage a building’s heating/cooling, lightning, access control and security as well as fire control. The Company also sells a market leading intelligent system (“Ecopilot”), enabling building energy cost reductions of up to 40% and helping users to meet EU climate and energy goals. For the past decade, the Company has embarked on an expansion journey making 13 acquisitions to further strengthen its value proposition and successfully gain market share in the Nordic region.
Olov Schagerlund, CEO