Investments in companies - 21.8.2013
Aidon focuses in the Nordics and sets plans for Europe
Aidon Oy, a technology company providing advanced smart metering solutions, has gone through a rapid growth during the past years. To reinforce the implementation of the company's growth strategy, Aidon has reorganized its shareholder structure by introducing Alder, a Nordic growth capital investor, as a new majority shareholder. Aidon's existing management team will continue with Timo Chrons as the company's CEO.
- Aidon's strategy is to become the leading smart metering solution provider in the Nordics, and to enter the European market within the coming years by introducing new industry leading smart metering solutions to our existing and new customers. The entry of Alder as Aidon's main shareholder will enable us to implement this strategy at faster speed. Alder will also bring valuable industry expertise and perspective to Aidon's management team, says Timo Chrons, CEO of Aidon.
- The transformation of the European energy market along with the progress of smart grid and smart metering opens up exciting market opportunities for a company like Aidon. Its clear vision to be the trusted advisor in smart metering solutions, brave approach as well as in-depth technology and industry expertise have paved the company's way to growth. Alder wants to contribute to Aidon's further success with a long term investment perspective in accordance with our strategy to support the development of strong Nordic companies in the environmental technology sector, says Dag Broman, Partner at Alder.
Finnish Industry Investment Ltd, 2VK Invest AS and management will remain as shareholders. Funds managed by Midinvest and private investors sold their shares.
- Aidon's unique products, as well as an experienced and ambitious entrepreneur team got us interested already in the start-up phase. We are pleased that the new shareholder structure will enable Aidon to maintain its growth strategy and to enter new market areas, says Jukka-Pekka Nikula, Managing Director of Midinvest Management.
CEO Timo Chrons, Aidon Oy, tel. +358 400 775 300, firstname.lastname@example.org
Partner Dag Broman, Alder, tel. +46 705 16 40 18, email@example.com
CEO Jukka-Pekka Nikula, Midinvest Management Oy, tel. +358 50 5399 378, firstname.lastname@example.org
Director Jussi Hattula, Finnish Industry Investment Ltd, tel: +358 40 066 9955, email@example.com
Aidon is a leading provider of open-architecture based smart metering systems and new generation energy service devices in the Nordics. Aidon's products serve today more than one million metering points in the Nordics. Aidon's net sales grew to 36 million euros in 2012. Company's annual R&D investment is ca. 10 % of the turnover. Aidon has offices in Jyväskylä and Vantaa in Finland, Täby in Sweden and Asker in Norway.
Alder is a growth capital investor with its objective to contribute to the development of strong Nordic companies in the environmental technology sector. In addition to the injection of capital, Alder offers proven management and corporate governance expertise. Alder has approx. 135 million euros under management. The investors behind Alder are large Nordic and European pension funds, insurance companies and family offices.
Midinvest Management Oy is a private equity investor specialised in growth funding and ownership arrangements of small and medium-sized enterprises. Midinvest Management manages an investment capital totalling 70 million euros, and its investors are Finnish institutional investors. Midinvest has currently approximately 20 portfolio companies.