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Hansen Technologies Announces Acquisition of Enoro and $50m Equity Raising

03 Jul 2017  |  10:35:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Acquisition of Enoro and $50m equity raising

Hansen Technologies announced that it is acquiring Enoro Holding AS (Enoro), the Nordic market provider of Customer Information Systems (CIS) and Meter Data Management (MDM) systems for the energy sector, for an enterprise value of A$96m. The acquisition is expected to close within the next two weeks, and will be effective from 1 July 2017. The business has 300 customer installations. The business has over 270 employees - with the majority in Norway and Finland, and smaller offices in Sweden, Netherlands, Switzerland and Austria. Forecast revenue for CY2017 is A$55m and EBITDA of A$9m. It has the capacity to fund 100% of the purchase consideration utilising new bank facilities in place.

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