Energy21 acquires Ecedo

Energy21 has acquired software vendor Ecedo, expanding its services and further strengthening its position as a leading technology partner for European energy companies and consumers.

Now with more than 100 employees, the group expects annual sales of around €20 million this year. Customers are located throughout Europe, including the Netherlands and the UK.

The acquisition follows increasing demand for software in the energy sector due to increased complexity and rapidly changing market requirements. This includes the energy price cap, the introduction of flexible contracts and the rise of electric vehicle sharing.

The acquisition of Ecedo follows strong growth in recent years. For more than a decade, the business provided software solutions to energy suppliers for traditional and dynamic contracts. With its cloud-based software, it helps more than 15 energy companies manage, register and bill about a million customers.

About Ecedo

Based in the Netherlands, Ecedo has been offering SaaS solutions since 2008 that allow energy suppliers in the Netherlands to manage their messaging and billing. With a team of about 25 employees, Ecedo serves over 15 customers. Ecedo's software occupies a central position in its customers' IT landscape and helps to properly implement rapid market changes. Ecedo processes significant amounts of data, invoices, consumption data, meter readings and messages annually and helps customers accurately manage their energy consumption.

About Energy21

Energy21 has been a market leader in transforming data into insights in the energy market for more than 25 years. The business, based in the Netherlands and Portugal, provides software solutions and expertise for continuously processing data into real-time insights and steering information in the energy market. Energy21 provides solutions that help customers maintain maximum control over their energy operations. Energy21 customers include energy companies such as Eneco, Essent and Vattenfall, as well as large energy consumers such as BASF and USG Chemelot.

BDO M&A and BDO Legal guided the transaction by performing the financial and tax due diligence. BDO Debt Advisory assisted Vortex Capital Partners and Energy21 in obtaining the transaction financing.