NextStage sells GreenFlex to Total

Total said it wants to make GreenFlex the linchpin of its growth in the European energy-efficiency industry. The oil giant has also bought a stake in renewables company Eren RE, which specialises in wind and solar energy, for €238m.

NextStage invested in GreenFlex in 2013. Its revenues have climbed from €65m in 2012 to an expected €350m for 2017, while its staff numbers have risen from 40 to around 230.

Over the holding period, it opened eight offices in France and six internationally. It also completed a number of bolt-ons: Terranova energy and Eveio in 2013; BeCitizen and BNext in 2014; Ordifluides in 2015; and Hopcube, BeLinked and Okavango in 2016.

The deal is expected to close in the fourth quarter of 2017.

Company
Established in 2009, GreenFlex uses data analysis, equipment management and financing to help businesses manage their energy consumption efficiently. It has around 600 clients, 230 staff and expects to generate revenues of €350m this year.

People
NextStage – Grégoire Sentilhes (president); Julien Potier (investment director).
GreenFlex – Frederic Rodriguez (president).

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