Cenergie (°1997) is a commercial service provider active in the sustainable energy sector. The company offers specialized advice at every stage of a building's life cycle, from design to demolition over renovation. When the founder and majority shareholder wanted to sell his stake, he contacted KBC Match'it. In Tom Peeters - Managing Partner at White Stone Capital - he eventually found the right candidate-buyer.
The right match
"At the end of 2016, I was informed that KBC Securities had launched a new M&A platform, bringing together SME vendors and potential investors. It sounded very interesting: a user-friendly platform where you can access essential business information and key financials in a transparent way. Shortly after registration, I started screening a number of companies.
Based on the the brief description of the activities of the SMEs, I could easily select the companies I wanted more detailed information on. Two companies immediately stood out. Cenergie was one of them: an innovative company with 30 employees that assists clients in the energy-efficient construction and renovation of large projects. After having received the information memorandum, it became clear that Cenergie is an established company in the sector, with 20 years of experience in energy consulting and energy management.”
After the initial non-binding offer, an introductory meeting between the seller and the prospective buyer was scheduled. In the end, the parties agreed to enter into exclusive negotiations. "Negotiations were very though on some points. After a few months, we – assisted by our respective advisors – reached an agreement on the price and terms & conditions of the sale.
'The special thing about Cenergie was that, at the time and even still today, the company was led by a CEO with a minority stake.'
"The CEO, active in the company for several years now, proved to be a very reliable partner. Immediately after the acquisition of the stake in November 2017, we carried out a number of restructuring operations. Additional cost savings were achieved, additional staff was recruited, and new customers are now finding their way to Cenergie. The company is currently well on the way to become the reference in energy services for larger real estate projects. You will undoubtedly hear from us in the future!”