Palamon Capital Partners, a European mid-market private equity firm, has acquired a majority stake in Eneas Energy for NOK375m ($63m).
Eneas is a supplier of corporate energy services in the Nordic region, with revenue of about NOK700m ($119m) during 2010.
The firm is now targeting further growth by broadening its reach by developing a wider product range and expanding geographically, which will be facilitated through the strategic support of Palamon.
Palamon Partner Erik Ferm said that Eneas has shown phenomenal growth over the last ten years and is now established as a leading player in Scandinavia.
“We have considerable experience in helping companies to grow internationally and in Eneas we see a company with the right credentials to achieve this,” Ferm said.