December 4, 2017

Adven to acquire E.ON’s district heating and distributed energy solutions business E.ON Värme Lokala Energilösningar Aktiebolag (‘EVLE’) in Sweden

EVLE owns and operates well established district heating operations in nine municipalities in Southern and Central Sweden. In addition, EVLE has multiple distributed energy solutions locations in the same areas. The business is extremely complementary for Adven, and will augment growth in Sweden.

Attractive addition to Adven

The business sees an exciting opportunity to further expand Adven’s environmentally sustainable distributed energy solutions across the Nordics. EVLE provides a perfect fit to the Adven’s strategic expansion ambitions in one of these core markets. The extended presence and professional employees of EVLE will provide a strong platform in this core market.

– Adven is the market leader in Finland and Estonia and we would like to reach the same position in Sweden. Whilst we have had an established business in Sweden since 2014, the acquisition of EVLE brings Adven’s business in Sweden to a new level and significantly strengthens our market position. We also see EVLE as a perfect complementary addition to the Adven’s existing business in Sweden and very much look forward developing the EVLE business further as part of the wider Adven.’ says Matti Viljo, CEO of Adven Group.

– These facilities have great potential to develop well with Adven as owners. E.ON can now focus on the new energy world and produce recycled or renewable heat at large scale plants, says Stefan Håkansson, Head of Heat Production at E.ON in Sweden. The district heating plants are located in Bara, Boxholm, Mora, Orsa, Sollefteå, Staffanstorp, Timrå, Vaxholm and Älmhult.

– We are seeing increased opportunities in the Swedish market for distributed energy solutions and the acquisition of EVLE provides an attractive platform to pursue this, says Juhani Sillanpaa, SVP M&A of Adven Group.

Additional information:

Adven, Matti Viljo, CEO Adven Group, +358 40 575 0505,

Adven, Juhani Sillanpää, SVP M&A, +358 50 452 0290,

Adven, Ilkka Niiranen, CEO Adven Sweden, +46 72 722 5580,

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