Livingstone has advised Enertis on its sale to Applus+

  • jul. 2021
  • Business Services
  • M&A: Sell-Side
  • Spain

Livingstone has advised Grupo Enertis (“Enertis” or “the Company”), a leading global renewable energy and power storage solutions consultancy, on its sale to Applus Servicios Tecnológicos, SLU (“Applus+”). Terms of the transaction have not been publicly disclosed.

Founded in 2007 as an engineering, consulting, testing, and inspection company for the photovoltaic industry, Enertis has rapidly grown into a globally recognized company with over 2,500 completed projects and a power base of 135 GW. Employing ~200 people across 13 locations, Enertis has tackled projects in 65 countries, with the main markets being Spain, the United States, and Latin America. The pandemic did little to slow the Company resulting in 2020 sales of EUR 20 million (24M USD) with high-profit margins.

José Luis Galindo, Founder and Managing Director of Enertis, stated, “The choice of Livingstone as a consultant was a resounding success. Livingstone was more than just a financial advisor with a very professional and dedicated team. It is also made up of people with empathy and experience who understood us and made the process very easy, which was valuable given the complexity of such a process.”

Applus+ is a publicly listed, international firm with over 20 years of experience in quality management and control, engineering and consulting, non-destructive testing, industrial and environmental inspections, supplier control, and plant integrity inspections. 

With the acquisition of Enertis, Applus+ gains valuable new capacities in the global renewable energy sector, a market with high strategic value and excellent growth potential. Applus+ is confident Enertis’ growth will accelerate upon the merger. 

“We were delighted to represent Enertis in this process,” stated Neil Collen, Partner at Livingstone. “The transaction will undoubtedly strengthen Enertis’ position in this sector.”

“This deal underscores the growing importance of suppliers of goods and services in the field of renewable energies. It was a pleasure to work with Jose Luis and his team. We wish them a bright future with Applus+,” stated Juan Romero, Director at Livingstone.

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