Alder to exit Finnish company Aidon in Q1 2021 – report

Eliza Punshi
20 November 2020

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Swedish private equity firm Alder is preparing to exit Finnish portfolio company Aidon in Q1 next year, sources told Unquote sister publication Mergermarket.

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.