RWE Solutions

 

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Acquired from the energy division of RWE Group (RWE), one of Europe’s leading utility companies, RWE Solutions is a diversified portfolio of five industrial energy-related services businesses.

Part of an on-going programme by RWE to dispose of its non-core assets, the challenges presented by the diverse and international profile of the Solutions portfolio are characteristic of one of Advent’s core areas of investment expertise – strategic restructuring. The combined business collectively employs some 9,500 staff and in 2005 generated net sales of approximately €1.7 billion.

The primary focus of our investment is the two largest businesses within the portfolio – SAG and Nukem.

SAG is a leading provider of energy-related infrastructure services to both the utilities and industrial sectors. The largest company within the portfolio, the business employs circa 8,000 staff and in 2005 generated revenues of €1 billion. Alongside its domestic market leadership, SAG is also active in several other European countries, including the strategically significant Central & Eastern European territories. Prospects for the business are excellent, capitalising on domestic market growth due to increasing investment in the energy infrastructure sector, opportunities in the attractive and growing international high-voltage sub-sector where SAG is already strongly positioned, and substantial regional investment in new CEE grids. Against what is a largely fragmented European market, the strategic advantage generated by a brand of SAG’s stature and market share is significant. In December 2007, SAG was acquired by EQT.

Nukem is the world’s largest independent uranium trader, and the third largest globally. At the time of the investment Nukem also was active in the field of decommissioning services. The strategic attractiveness of the decommissioning business is the global demand for decommissioning of nuclear facilities, in particular in the Central- Eastern- European markets and in the deregulating UK market. The decommissioning services were sold to different trade buyers in the respective regions.

 

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Jan Janshen

Managing Partner, Advent International plc, London
T: +44 (0)20 7333 0800