Czech utility ČEZ group has entered the German ESCO service market through the acquisition of 100% stake in the firm Elevion from DPE Deutsche Private Equity fund.
The transaction is subject to approval by the relevant antimonopoly authorities. It is scheduled to be completed in summer 2017. Elevion provides energy services to industrial and building companies, municipalities and local governments.
The company focuses on the installation of energy systems in new buildings and improving energy efficiency in older buildings. Over the last five years, the firm saw its revenues grow at the average rate of over 30% p.a. Elevion’s clients include companies from aviation, automotive, food, and technology industries and healthcare.
