Apricum, the transaction and advisory firm specialized in clean technologies, acted as the exclusive sell-side M&A financial advisor to depsys for its M&A transaction with Octopus Energy Group’s Kraken. The resulting acquisition of depsys and its GridEye solution is expected to help drive the global renewable energy transition by accelerating the penetration of digital energy platforms in the European utilities space.
Based on Apricum’s broad global network, the mandate saw Apricum execute a comprehensive buyer search that successfully identified a suitable buyer. In addition to increasing Kraken’s presence in Switzerland, depsys’ innovative power grid platform known as GridEye will empower electricity grid operators across Europe with the real-time data that enables them to better manage and develop their networks.
“We are really excited to be part of Kraken and looking forward to realizing our shared ambition to contribute to a net zero world. Apricum supported us with valuable in-depth transaction knowledge, process execution and an industry network.” said Michael De Vivo, CEO depsys.
“We are proud to be a reliable partner that enables our clients to help drive the global energy transition by bringing their renewable energy solutions to end users. depsys has developed an innovative grid management solution which is critical to increasing the use of renewable energy,” said Nikolai Dobrott, Apricum managing partner.
Apricum was exclusive financial advisor to Upside Energy on its sale to Octopus in 2020, where it has prospered and grown. Upside is now called Kraken, today’s buyer of depsys and Apricum is delighted to continue this relationship with a market leader. Successful enablement of this sell-side M&A transaction is further proof of Apricum’s extensive global network in the cleantech space. It also illustrates Apricum’s ability to execute an effective and efficient transaction process while cementing its expertise in smart grids and digital energy solutions.
Please contact Apricum Partner Charles Lesser to discuss transaction advisory services in the renewable energy space.
