from Thermador Groupe (EPA:THEP)
THERMADOR GROUPE : Acquisition of company Compteur-energie.com
Press Release
Saint-Quentin-Fallavier – July 4, 2024– 5:35pm
Acquisition of company Compteur-energie.com
On July 4, 2024, Thermador Groupe signed an agreement protocol for the acquisition of 100% of the shares of companies Compteur-energie.com, headquartered in Le Plessis-Belleville, OTMetric, headquartered in Tremblay-en-France, and MyMeterInfo, headquartered in SaintQuentin-Fallavier, for a total cash payment of €3.485m from group equity. The cash transfer and the closing of the operation are scheduled for July 31, 2024.
An earn-out of €200,000 will be paid on April 30, 2029 at the latest if the average earnings before interest and taxes are €517,000 or more.
These companies have expertise in the design and sale of remote reader systems (IoT) and of electricity, water, gas, fuel oil and energy meters for professionals. They employ eight people and have a total turnover of €2.4m and a net pre-tax profit of €369,000. On June 30, 2024, the balance sheet showed no bank debt and a cash position of €185,000. They are managed by Thierry Dupont and Olivier Mogenot, who would remain in their current roles with a high degree of operational delegation. The main sales channel for these technical solutions in France is the e-commerce platform, compteur-energie.com.
This is an opportunity for Thermador Groupe to strengthen its positioning in the metering market, where its subsidiaries Sferaco, Sectoriel, Distrilabo and Thermador are already active. It also delivers the required knowledge and expertise to bolster the connected equipment products already sold by the group's subsidiaries.
Sales of these products, systems and solutions are set to grow in the coming years, as resource savings will largely be based on the use of consumption data in buildings, factories and all facilities that feature in the water cycle.