Three Hills Capital invests €60m in ACT Group

Co-CEOs Bram Bastiaansen and Jaap Janssen will remain fully engaged in their current roles and retain a majority equity stake in ACT.

The vehicle used for the transaction was Three Hills Capital's third fund, recently launched, Unquote understands. 

ACT Group is the second investment completed via the vehicle, as well as the firm's first transaction for a Benelux-based company.  Senior associate Arjan Blok was hired by Three Hills to facilitate investments in the region around a year ago, a spokesperson for the firm told Unquote. 

As part of the transaction, an additional nine employees have been promoted, making 13 partners in total.

The financing will support the business in its five-year growth plan. The company sees short-term potential to triple turnover thanks to a commensurate growth in its workforce.

Company
Founded in 2009, ACT operates as a market maker in both obligatory and voluntary environmental energy products. The firm claims to serve 5,000 active clients, offering a one-stop-shop service for around 40 products. 

The company currently employs more than 125 employees internationally, and has grown to nearly €1bn of annual traded volumes. Headquartered in Amsterdam and with offices in New York and Shanghai, ACT is active in 50 countries.

People
ACT - Bram Bastiaansen, Jaap Janssen (co-CEOs). 
Three Hills Capital Partners - Leks de Boer, Michele Prencipe (partners), Arjan Blok (senior associate), Victor Benazech (principal).

Advisers
Company - Marktlink (corporate finance); DLA Piper (legal); EY (financial due diligence); KPMG (commercial due diligence).
Equity - Axeco (corporate finance); Vriman M&A Lawyers (legal); PwC (financial due diligence, tax); Navigant Consulting (commercial); Graph Consulting (commercial due diligence).

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• Topics
• Expansion
• Benelux
• Financials
• Netherlands