Alder to exit Finnish company Aidon in Q1 2021 – report

Founded in 2004 and based in Jyväskylä, Aidon is a Nordic-focused supplier of smart grid and smart metering technology. Alder acquired a majority stake in the company in 2013, alongside 2VK Invest, Tesi and key employees.

According to three sources, the company was pre-sounded to the market two to three years ago, but a sale did not materialise.

A source told Mergermarket that the business is expected to generate revenues of around €45m next year, with a 15-20% EBITDA margin.

According to investor Tesi's website, the company in 2018 generated revenues of €57m and had 63 employees.

Income for companies such as Aidon can be relatively lumpy given the project-based nature of their work, focused on big service rollouts followed by finding new contracts, a source told Mergermarket.

But another source argued that the company had moved towards a more stable service and software revenues, and had a healthy backlog given good visibility for the coming years, which should make the company appealing to both strategic investors and sponsors.

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