Monday, April 15, 2024

Dutch Software house Energy21 builds UK market presence with acquisition of Loughborough software provider Jules Energy

Energy21, a Dutch data insight company operating in the energy sector, has acquired Loughborough company Jules to provide the expanded organisation with an operating foothold and growth in the UK market.

The East Midlands firm together with Dutch branch partner Ecedo has been added to the Energy21 group expanding its employee numbers to over 100 including a UK-based operations, product and sales team. The company will continue trading under the Jules brand.

With annual revenue of around €20m this year and clients across Europe and the UK, Energy21 has established itself as one of the leading technology partners for European energy companies and consumers. It counts German chemicals giant BASF and Swedish renewables company Vattenfall among its clients.

Jos den Broeder, CEO at Jules, commented: “The acquisition of Jules by Energy21 will enable us to further grow our business and to offer a wider range of software solutions to existing and new customers in the UK and Europe.

“Becoming part of the Energy21 group brings a strong brand with an impressive track record to the UK. This positions Jules even better towards the energy supplier market, giving business prospects of at least doubling revenues in the next two years.”

The acquisition follows a rising demand for software-driven solutions across the energy sector which is growing in complexity due to rapidly changing market requirements. This includes implementing the energy price cap, the introduction of flexible contracts, and the rise of EV charging demand and EV-sharing.

With the addition of Jules’ software, Energy21 can now offer a new solution to energy suppliers and their clients. Their energy procurement platform enables business customers to independently manage electricity and gas positions. This enables the energy supplier to serve many customers in a scalable and cost-efficient way.

Alongside the Jules deal, Energy21 has also acquired Dutch SaaS company Ecedo.

Ecedo’s acquisition follows strong growth in recent years. For over a decade, the company provided software solutions to energy suppliers for traditional and dynamic contracts. With its cloud-based software, it assists more than 15 energy companies with managing, registering, and invoicing around one million customers.

Michiel Kuiper, CEO of Energy21, added: “These two acquisitions align well with Energy21’s strategy to be the go-to technology partner for energy companies. By adding the software solutions and expertise we can deepen our product offering and geographic presence. This will allow us to support more clients with more specific solutions in the energy value chain.

“Together, the group serves approximately 50 customers, from new challengers to established multinationals in Europe and the United Kingdom. What connects the teams? Passion for the energy market, deep expertise, and the ability to deliver business-critical software services securely and effectively. We are very pleased to welcome the knowledgeable teams of Ecedo and Jules.”

The acquisitions are supported by majority stakeholder Vortex Capital Partners. Jorre Bonjer, operating partner at Vortex Capital Partners commented: “Energy21, Ecedo, and Jules provide business critical software solutions that are developed based on deep market knowledge and many years of experience. With the further expansion of the product portfolio and the growing international footprint, the group is even better equipped to support current and new customers in the rapidly changing energy market.”

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