Montel, a portfolio company of private equity firm The Riverside group’s affiliated European fund, is to acquire the assets of SKM Market Predictor (SKM), a provider of analysis and advisory services for the Nordic power and renewables markets.
The investment is the latest add-on for Montel, a Norwegian provider of energy and electricity news, data and analytics.
Founded in Trondheim, Norway, in 2003 through a management buyout from the SKM Group, the company’s offering revolves around its web-based platform SYSPOWER, which includes forecasting and analytics tools for traders, analysts, portfolio managers, and production planners. It is the fourth add-on acquisition for Montel since entering into the partnership with Riverside.
SYSPOWER offers short and long-term analyses, including daily power price forecast for all Nordic electricity price areas, gas, coal, and CO2 reports and information on the green markets. In addition to its fundamental model, SKM also offers services including investment analysis, arbitrage assistance, risk management, and policy services, as well as training and education. By acquiring SKM, Montel gains access to valuable data, additional forecasting models, and a modern technology platform.
Riverside acquired a majority stake in Montel in September 2022, with a plan to grow the organisation by capturing market share in a growing sector, developing new products and services, and driving geographic expansion, as well as pursuing selective add-on acquisitions.
Montel completed its first add-on of EnAppSys, a data and analytics provider to the European energy market, in January 2023, and the acquisitions of Energy Brainpool, an analytics and consultancy provider to the European power market, and Qwatt, a platform providing data and forecasts regarding power purchase agreements, in January 2024.
Riverside and its affiliated fund were assisted and advised by Alpha Corporate Finance, BAHR, PwC and Code & Co.
