The Riverside Company’s Montel Group To Invest in SKM Market Predictor

The Riverside Company (Riverside), a global investment firm focused on the smaller end of the middle market, has announced that Montel, a portfolio company of its affiliated European fund, has signed a definitive agreement to invest in the assets of SKM Market Predictor (SKM), a provider of analysis and advisory services for the Nordic power and renewables markets. The investment is the latest add-on for Montel, a Norwegian provider of energy and electricity news, data and analytics.

Founded in Trondheim, Norway, in 2003 through a management buyout from the SKM Group, SKM Market Predictor provides analysis and advisory services for the Nordic power and renewables markets. The company’s offering revolves around its web-based platform SYSPOWER, which includes forecasting and analytics tools for traders, analysts, portfolio managers and production planners. It is the fourth add-on acquisition for Montel since entering into the partnership with Riverside.

Karsten Langer, Riverside Europe Managing Partner, commented: “We are delighted to have secured our latest add-on for Montel, as we continue to drive value creation through organic growth supported by an ambitious buy-and-build programme. The addition of SKM will fortify Montel’s position in the Nordics, which is a key market for the company, provide access to a wider pool of data and expertise and create value through increased analytics revenue and cross-selling opportunities.”

SKM’s SYSPOWER platform offers short and long-term analyses, including daily power price forecast for all Nordic electricity price areas, gas, coal and CO2 reports and information on the green markets. In addition to its fundamental model, SKM also offers services including investment analysis, arbitrage assistance, risk management and policy services as well as training and education. By acquiring SKM, Montel gains access to valuable data, additional forecasting models and a modern technology platform.

Riverside Europe Principal Dan Parksjö, who led the deal team for this transaction, added: “SKM’s SYSPOWER platform, with its strong capabilities in the Nordics, is the last piece of the puzzle for a full-suite offering for Montel in the region. The SYSPOWER platform is highly modular and flexible, making it suitable for both large enterprise customers and smaller customers, which will help grow the customer base further.

Tom Nyblin, CEO of Montel, continued: “We are very excited about welcoming the SKM team into the group. This acquisition helps to further solidify Montel as the go-to player in the Nordics for energy data, news and analytics. We can’t wait to get started working together to provide even more value to our combined customer base.”

Montel, headquartered in Oslo, provides energy and electricity market information for energy producers, grid operators, financial institutions, trading firms and commercial end-users. The company has one of the strongest suites of full-service power information services in the market, enjoying strong market shares in its key geographies.

Riverside invested a majority stake in Montel in September 2022, with a plan to grow the organization by capturing market share in a growing sector, developing new products and services and driving geographic expansion, as well as pursuing selective add-on acquisitions.

Montel completed its first add-on of EnAppSys, a data and analytics provider to the European energy market, in January 2023, and the acquisitions of Energy Brainpool, an analytics and consultancy provider to the European power market, and Qwatt, a platform providing data and forecasts regarding power purchase agreements, in January 2024.

Viktor Balyberdin, CEO at SKM Market Predictor added: “Throughout our years of operation in the market, we have consistently maintained a strong collaboration with the Montel team. We are now excited to officially join them. By joining forces with Montel, we anticipate substantial growth in our current product range, as well as opportunities for new developments as part of Montel. The SKM team, across our Trondheim, Oslo and Helsinki offices, eagerly looks forward to contributing to this accelerated growth alongside Montel.”

Riverside and its affiliated fund were assisted and advised by Alpha Corporate Finance, BAHR, PwC and Code & Co.

Working with Langer and Parksjö on the transaction for Riverside were Senior Director Jeroen Lenssen, Associate Nils Mjörnemark and Senior Legal Counsel Peter Parmentier.