ox8 Corporate Finance acted as exclusive advisor to the shareholder of powercloud GmbH on the sale of a minority stake to General Atlantic. powercloud GmbH, a fast-growing cloud software provider for the energy industry, and General Atlantic, a leading global growth capital investor, have entered into a strategic partnership to jointly drive the further national growth and internationalization of powercloud. General Atlantic will support powercloud with its strategic know-how.
powercloud was founded in 2012 by Marco Beicht and has since undergone robust growth. The company supports energy supply utilities with innovative solutions for digitization. The “Software as a Service” (SaaS) model helps ensure that expensive investments in software are not necessary. The array of services comprises the following divisions: ERP, regulatory processes, billing as well as contract and customer management. Using the powercloud solution, energy providers can better acquire new end-customers with the dynamic pricing engine and better manage their existing end-customers on all channels with full digital processes and automation. At present, powercloud predominantly offers its solutions to larger and medium-scale energy providers but would like to develop additional market segments in future. EnBW and E.ON are two industry heavyweights that have already opted for powercloud.
Marco Beicht, founder and CEO of powercloud, said: “powercloud is the first cloud platform for the core processes of the energy industry. . In order to drive our national growth and internationalization as well as further extend our lead over the competition, we were looking for a strategic partner who is able to support us with its global network and expertise. The transaction process was excellently managed by ox8 Corporate Finance. The team around Thorsten, Christian and Fabian advised us professionally and passionately, actively supported us in many tasks during the whole process and presented the most interesting potential partners via their international network. . Out of the potential partners we chose General Atlantic. ox8 was an important factor in the successful transaction. For me personally, this is the third deal that Thorsten and his team have successfully advised on.“
In addition to ox8, powercloud was advised on the legal side by the Milbank team led by Dr. Michael Bernhardt, Dr. Leopold Riedl, Sebastian Dexheimer, Dr. Sarah-Maria Resch and Dr. Matthias Schell.
About powercloud (www.powercloud.de)
powercloud GmbH is an innovative and fast-growing cloud software provider for the energy sector. Since its inception in 2012, the company has offered “Software as a Service” (SaaS) solutions for energy utilities of all sizes. The company is led by Marco Beicht and Zoran Petrovic. The spectrum of services comprises the following divisions: ERP, regulatory processes, billing as well as contract and customer management. In the interests of its customers, the company assigns priority to lean and optimized processes. This has made the enterprise one of the fastest-growing CRM and billing system within the industry.
About General Atlantic (www.generalatlantic.com)
General Atlantic is a leading global growth equity firm providing capital and strategic support for growth companies. Established in 1980, General Atlantic combines a collaborative global approach, sector specific expertise, a long-term investment horizon and a deep understanding of growth drivers to partner with great entrepreneurs and management teams to build exceptional businesses worldwide. General Atlantic has more than 150 investment professionals based in New York, Amsterdam, Beijing, Greenwich, Hong Kong, London, Mexico City, Mumbai, Munich, Palo Alto, São Paulo, Shanghai, and Singapore.
About ox8 Corporate Finance (www.ox8-cf.com)
ox8 Corporate Finance is an independent corporate finance boutique founded in 2018 by experienced M&A specialists. Corporate finance advisory services are offered with a focus on M&A as well as Growth Capital in the Software/ Saas, Digital Commerce, Technology/ IT services and Healthcare sectors. The team has an excellent international network to financial investors and strategic buyers. ox8 Corporate Finance has offices in Frankfurt am Main and Aschaffenburg.
