Solutions 30 today announced that it has entered into exclusive negotiations for the acquisition of EnergyGo, a specialist in energy renovation. With this transaction, the group confirms that it is resuming its external growth strategy and is accelerating the development of its activities in the field of energy transition, a market that is estimated to represent nearly €20 billion per year in France and which is a significant driver of programmes to reduce energy consumption throughout Europe.
Founded in 2010, EnergyGo offers turnkey energy renovation solutions to households eligible for subsidies. EnergyGo operates in a dynamic market, supported by government stimulus plans to accelerate energy transition and addresses a triple challenge: (i) fight against climate change, (ii) support cost-of-living through reduced energy bills and (iii) improve both the comfort and the value of homes.
EnergyGo relies on a network of certified contractors and has carried out more than 4,000 energy renovation projects in 2021, generating a turnover of over €53 million. Today, EnergyGo is the benchmark in the Auvergne-Rhône Alpes region and is recording rapid growth in its business with a fourfold increase in turnover between 2019 and 2021, a solid profitability and a sound, debt-free financial structure.
With this transaction, Solutions 30 aims to strengthen its service offering for residential customers in the energy transition market and to extend the company’s commitment to making the changes, that are transforming people’ daily lives, accessible to all. Together, Solutions 30 and EnergyGo will play a full part in turning Europe’s energy transition into a reality, with their complementary positioning in terms of service offering, geographical coverage and targeted customers, sharing a common approach to multi-technical services.
Raphaël Assouline, CEO and current majority shareholder of EnergyGo commented: “Joining Solutions 30, means EnergyGo will further expand its reach by leveraging the group’s extensive network. We are very proud of EnergyGo’s growth, thanks to the extraordinary commitment of our teams, and I am delighted to be part of a high-performance group where we share the same quality standards and strong growth momentum to establish ourselves as the leader in efficiency in both technology and energy”.
Gianbeppi Fortis, Chairman of the Management Board of Solutions 30, added: “This acquisition will accelerate the development of Solutions 30 in the field of energy transition. It allows us to significantly expand our range of services in energy renovation, an area that is a powerful driver for addressing the challenges of energy consumption reduction, as reaffirmed in the European REPowerEU plan. EnergyGo is the leader in the French region of Auvergne-Rhône-Alpes, and with the support of Solutions 30, it has the resources to become a European champion, thus playing an active and significant role in improving the quality of our environment. The target market is considerable and rapidly growing, and we are uniquely positioned to serve it thanks to our operating platform established throughout Europe”.
The closing of the transaction is expected in the coming weeks, once the information-consultation process with EnergyGo’s Employee Representative Bodies has been successfully completed and subject to regulatory approvals and the customary preconditions being met.
