Energy Transition & Sustainability, M&A

Bryan, Garnier & Co acts as Sole Financial Advisor to Aidon and its majority shareholder Alder on the sale of Aidon to Gridspertise

Since its founding in 2004, Aidon has offered advanced hardware and software solutions to energy distribution system operators (DSOs)

Aidon provides these customers with insights using detailed sensor data from smart meters and devices by applying software-based analytics and intelligence. This helps them to digitalise their processes and enhance the efficiency of grid operations.

With its pioneering hardware and software, Aidon has become the dominant independent player in the Nordics – the world’s most advanced energy IOT market, and continues its expansion more broadly across Europe.

Bryan, Garnier & Co acts as Sole Financial Advisor to Aidon and its majority shareholder Alder on the sale of Aidon to Gridspertise (a company jointly owned and controlled by Enel Group and CVC Capital Partners)

Bryan Garnier was selected to support Alder in their divestment of Aidon on the basis of our international reach, track record in the space, and understanding of the industry.

We conducted the go-to-market process on a tight timeline, creating strong interest from both potential private equity and industrial acquirers leading to a good selection of non-binding offers. We then carefully managed transaction terms and sustained acquirer interest throughout the due diligence phase, resulting in a great outcome for all parties.

This transaction builds on our extensive track record in energy IOT and impact software. Other notable transactions in the space include a Series B capital raise for GridBeyond (energy software), the sale of REstore (demand response/VPP) to Centrica, and a private placement for Kayrros (sustainability data analytics.)

"We are delighted to have successfully identified the right partner for Aidon's next phase of growth. Bryan Garnier supported us at every step of the way, from equity story to transaction closing, helping to deliver an outstanding outcome for multiple stakeholders. By combining our pioneering and integrated hardware and software solutions with Gridspertise's cutting-edge technologies and global commercial reach, we are well positioned to thrive and grow in established and emerging markets."

— Tommi Blomberg - CEO of Aidon Oy

Aidon is the leading provider of smart grid and smart metering solutions, applications and services in the Nordics. Our systems enable reliable metering and distribution of energy as well as efficient maintenance processes of distribution networks for our customers. The technology supplied by Aidon is in use in about 5 million energy metering points in the Nordic countries. Our head office is in Jyväskylä, Finland, our Swedish office in Stockholm, the Norwegian office in Asker and the Danish office in Copenhagen. Our production and logistics center is located in Vantaa, Finland.

Gridspertise offers grid intelligent devices, end-to-end cloud-edge platform solutions and services to accelerate the digital transformation of electricity distribution grids across three main areas: metering and grid edge digitalisation, network infrastructure digitalisation, field operation digitalisation. The Company’s portfolio is designed as an open ecosystem, easy to integrate with Distribution System Operators’ existing infrastructure, combining intelligent and automated grid devices with ready-to-use modular applications, running at central level as well as on the edge. The Company was set up in 2021 as a carve-out of Enel’s twenty-year-long experience in developing, testing, and scaling up digital technologies to transform legacy distribution networks into smart grids. Gridspertise is today jointly controlled by the Enel Group and the leading global alternative investment manager CVC Capital Partners. The Company has inherited a significant intellectual property portfolio of over 350 patents and combines its expertise in grid digitalisation with cutting-edge solutions from leading technology partners to tackle the evolving digitalisation needs of the energy market. Gridspertise is headquartered in Italy with subsidiaries in Spain, Brazil, India and the United States. Current target markets include Europe, Latin America and North America, expanding towards Asia-Pacific and Africa, where investments in power grids will drive infrastructure upgrade projects in the near future.