- Wattstor plans to use the funding to widen its European footprint, boost R&D, and expand its team by over 50%
- Its existing investor janom will retain a minority stake in the firm
- Ara Partners is a private equity and infrastructure firm
Ara Partners will announce later today that it has acquired a majority stake in Wattstor, a provider of automated carbon reduction and electricity cost-saving technology for small and medium-sized enterprises and mid-market industrial and commercial end users.
With its headquarters in London, Wattstor has offices in the UK, Czech Republic, Slovakia, Croatia and Poland.
The firm intends to use the capital to widen its European footprint, launch its Energy-as-a-Service (EaaS) finance offering, boost R&D, and expand its team by over 50 percent in the next year, according to a release.
“Wattstor provides a unique and highly compelling automated behind-the-meter solution allowing its I&C customers to reduce their carbon footprint and save on costs, while increasing energy security,” said Myles O’Shaughnessy, managing director at Ara Partners. “Wattstor’s offering fully aligned with Ara’s sustainability principles and our ongoing focus on proven technologies for sectors requiring investment to decarbonise.”
Additionally, Wattstor’s existing investor janom, a Slovakian private equity firm, will retain a minority stake in the firm. The firm acquired a majority stake in Wattstor in 2017.
“Our partial exit from Wattstor is a markable milestone on our journey, which started almost 10 years ago,” said Jan Miskovsky, chairman of the board and owner, janom. “We believe the business will accelerate its growth using the synergies and experience of its shareholders and management and will benefit many customers worldwide.”
Ara Partners is a private equity and infrastructure firm focused on industrial decarbonisation investments. The firm is headquartered in Houston, Texas and has offices in Boston, Massachusetts, and Dublin, Ireland.
Based in Bratislava, Slovakia, janom is a private equity investor focused on the development of renewable energy sources and venture and growth investments.