Secondary Buyout • Renewable Energy

Smile Invest Acquires Tenten Solar

On April 7, 2023, growth capital firm Smile Invest acquired renewable energy company Tenten Solar from Quadrum Capital

Acquisition Context
  • This is Smile Invest’s 1st transaction in the Renewable Energy sector.
  • This is Smile Invest’s 12th transaction in the Netherlands.

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M&A Deal Summary

Date April 7, 2023
Target Tenten Solar
Sector Renewable Energy
Buyer(s) Smile Invest
Sellers(s) Quadrum Capital
Deal Type Secondary Buyout

Target Company

Tenten Solar

Lichtenvoorde, Netherlands
Tenten Solar is a manufacturer, specialist, wholesaler, supplier, and installer of solar panel systems. The company is specialized in generating solar power by means of solar panels ( PV panels ). Tenten Solar serves the market of professional clients such as housing corporations, agricultural companies, (SME) companies, and (semi-) government institutions. Tenten Solar was founded in 2009 and is based in Lichtenvoorde, Netherlands.
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Buyer Overview 1

Buyer

Smile Invest

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 2017
PE ASSETS 350M EUR
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Smile Invest is a growth capital investment firm focused on the software, technology, healthcare, and consumer products/services sectors. The Firm targets opportunities across Western Europe, with an emphasis on companies in the Benelux region. Smile Invest will consider both majority or minority situations and seeks to commit €5 to €50 million in companies with up to €100 million of revenue. Smile Invest was formed in 2017 and is headquartered in Linden, Belgium.


Deal Context for Buyer #
Overall 16 of 17
Sector: Renewable Energy 1 of 1
Type: Secondary Buyout 4 of 4
Country: Netherlands 12 of 12
Year: 2023 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-31 FMTC Safety

Badhoevedorp, Netherlands

FMTC Safety provides certified safety training for professionals in the (off/onshore) wind, oil & gas and maritime markets. FMTC Safety was founded in 2014 and is based in Badhoevedorp, Netherlands.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-06-12 Climate for life

Schiedam, Netherlands

Climate for life provides heating, hot water, ventilation, and control solutions. The company makes it possible to live energy-neutral today in line with the climate demands of tomorrow. Climate for life is based in Schiedam, Netherlands.

Sell -

Seller Profile 1

SELLER

Quadrum Capital

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2012
PE ASSETS 920M EUR
Size Large
Type Sector Agnostic
DESCRIPTION

Quadrum Capital is a private investment firm focused on profitable mid-sized Western European companies with at least €2 million of EBITDA. Sectors of interest include IT, packaging, healthcare services, and human capital. Quadrum Capital was formed in 2012 and is headquartered in Almelo, Netherlands.


Deal Context for Seller #
Overall 5 of 9
Sector: Renewable Energy 1 of 1
Type: Secondary Buyout 1 of 1
Country: Netherlands 5 of 8
Year: 2023 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-01 BrilGroup

Kruibeke, Belgium

BrilGroup is a group of independent optical and audiology practices in the Netherlands and Belgium. BrilGroup is based in Kruibeke, Belgium.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-04-20 Siebert & Wassink

Hengelo, Netherlands

Siebert & Wassink provides recruitment & selection, assessments and organizational advice in the north and east of the Netherlands. The company maintains very long-term relationships with its customers in both the business and public sector. With professionalism and personal attention, Siebert & Wassink supports organizations in their strategic development and acts as a long-term cooperation partner. Siebert & Wassink was founded in 2000 and is based in Hengelo, Netherlands.

Buy -