Acquisitions in Trøndelag, Norway

Montel, a Riverside-backed provider of energy news, data and analytics, has signed a definitive agreement to acquire the assets of SKM Market Predictor, a Trondheim-based provider of forecasting, advisory and analytics for the Nordic power and renewables markets. The deal is an add-on acquisition that brings SKM's SYSPOWER platform and forecasting capabilities into Montel to broaden its analytics offering and accelerate cross-selling and geographic coverage in the Nordics.

Italian HVAC-R components and solutions provider CAREL has acquired Kiona, a European PropTech SaaS platform focused on building energy efficiency, from Summa Equity and other Kiona shareholders. Kiona—used across 58,000+ buildings and employing ~145 people—will be integrated with CAREL's hardware and software offerings to expand CAREL's energy-efficiency and building-management capabilities and accelerate global growth.

EG, a Nordic vertical software company, completed the acquisition of Norwegian SaaS provider Ørn Software Holding AS on 1 August 2022 after receiving required regulatory approvals. The deal brings Ørn's ~160 employees and suite of SaaS products for real estate, energy & sustainability, maintenance and quality control into EG's portfolio to expand its industry-specific SaaS capabilities across the Nordics.

NDS Group AS, a subsidiary of AURELIUS Equity Opportunities, has agreed to acquire Norwegian equipment distributor Nordic Lift AS from founders Knut Ulseth and Frode Rosmæl. The add-on strengthens NDS' AutoMateriell equipment business by expanding its product offering and service footprint across Trondheim and Oslo as part of AURELIUS' strategy of growing portfolio companies through synergetic add-ons.

Swedish PE-backed Egain and Norwegian SCADA specialist IWMAC have merged to form a new company combining their building connectivity and energy‑management platforms. The combined business will operate across seven countries with c.120 employees, leverage IoT, AI and big data to optimise building energy use, and pursue further buy-and-build expansion; Summa Equity remains a significant shareholder and Pivot Invest is represented on the board.