Corporate energy services
Eneas was a leading supplier of corporate energy services and had built a customer base of 8,000 clients across the SME sector as well as large corporates and public authorities. It aims to reduce energy costs for the SME sector through its Energy Broker and Energy Audit products, and for large real estate owners through Joint Metering and Energy Efficiency projects
The Nordic energy supply market was highly fragmented with low levels of brokerage penetration. The trend towards corporate energy procurement outsourcing and the increasing competition amongst energy suppliers to win customers presented a strong opportunity to build out Eneas brokerage business.
Eneas had grown into the largest independent energy broker for SMEs and the clear market leader in Norway and Sweden, representing 1.7 TWh of annual energy consumption and serving more than 25,000 customers with energy brokerage, energy audit and smart metering services
On 10 August Palamon completed the sale of Eneas Group to Norvestor Equity for an undisclosed amount. The sale brought total proceeds form the investment to NOK 750 million (approximately €80 million), representing a 3.3x return on invested capital.