Amsterdam trading house ACT worth €1 billion after Bridgepoint injection | Financial

Amsterdam trading house ACT worth €1 billion after Bridgepoint injection | Financial

The ACT, founded in 2009, which reports the injection on Friday, guides companies that have to work more energy-efficiently and switch to biofuels, for example.

The company on Strawinskylaan helps with the trade of compulsory CO2 emission rights, which have recently risen sharply in price. The Amsterdam ACT is now active for companies in forty countries. The investment comes as the European Union has announced a series of additional reductions in CO2 emissions for companies in its Green Deal.

The valuation of ACT of one billion euros has been officially issued and can be deduced from the annual accounts that have just been filed with the Chamber of Commerce, where an EBITDA of €53 million is stated.

Major investments

“That appreciation has also been calculated thanks to our current growth rate, the tailwind we have in the environmental market and thanks to the momentum that the Green Deal is now giving everywhere,” said CEO Bram Bastiaansen of the company, which also has offices in New York, Shanghai and Paris. “There is an incredible amount of money invested in it.”

Bastiaansen at the signing of the agreement with Bridgepoint.

ⓒ ACT COMMODITIES

In 2018, this Amsterdam trading house on the Zuidas, designed by Jaap Janssen and Bastiaansen, already received a million-dollar injection. The British private equity fund Three Hills Capital Partners is said to have invested more than €60 million in the minority share.

It saw a lot of value in business support in addition to trading the CO₂ emission rights, green certificates and biofuels. Three Hills saw that due to new environmental regulations, the trade in these rights and certificates had to become an unavoidable part of the business.

Additional staff

ACT founders Janssen and Bastiaansen expanded their company to 280 employees who are active in almost all environmental markets. “The demand remains huge. Companies and governments are looking for drastic measures against climate deterioration. We continued to grow in times of corona and we were able to hire 80 people,” says Bastiaansen.

“With the investment, we have the international knowledge in our markets to be able to expand in more countries,” says Bastiaansen. ACT will also expand in the Netherlands.

The founders keep their majority stake in ACT. The minority interest is “somewhere between 40 and 50%”, is what Bastiaansen wants to say about it as much as possible. This allows the major shareholders to maintain control.

The Bridgepoint fund, which is very active in Europe, with €27 billion under management, will buy out the stake of Three Hills Capital completely with the agreement.

‘Market leader’

ACT Commodities claims to have become the market leader when it comes to sustainable energy solutions for companies since its inception.

“We expect the market in which ACT is active to grow rapidly in the coming years,” said Olivier van Riet Paap, head of investment activities for Bridgepoint in the Benelux of the agreement supervised by Morgan Stanley.

“More and more countries and organizations are working to combat climate change and accelerate the energy transition.”

This leads to more rules in an already complex market. “While the willingness to change is growing in the boardrooms,” says Van Riet Paap. As a market leader, ACT can quickly grow internationally in the middle segment of companies with the injection, he says.

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Amsterdam trading house ACT worth €1 billion after Bridgepoint injection | Financial
Source link Amsterdam trading house ACT worth €1 billion after Bridgepoint injection | Financial

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