Amsterdam, January 2019 – Committed Capital has taken a stake in Connecthing, a rapidly growing sales platform for the energy market. Committed Capital supports Connecthing in its growth by investing in the organisation, product development and an active buy-and-build strategy. Following the acquisition of NutSelect at the end of 2017, Synnion was recently added to the group.
Both Connecthing and Synnion are platforms that link energy suppliers and energy consultants. They are active in the Dutch market, where 1.2 million households change their energy supplier each year. This market has grown steadily in recent years, but still offers sufficient potential. Some three million households have not changed their energy supplier in the past five years.
Like Synnion, Connecthing offers sales and CRM functionalities via its platform to energy consultants and relieves energy suppliers by ensuring that energy contracts sold by consultants meet their quality requirements. Through the platforms of Connecthing and Synnion, approximately 15 energy suppliers in the Netherlands have access to approximately 1,500 energy consultants who sell energy contracts to private and business customers. Both platforms provide a large number of switches each year, making them one of the top three in terms of size in the Dutch market.
The recent acquisition of Synnion means that further development can take place more quickly. This means that more functionalities can be added. For example, both suppliers and advisors want to sell sustainable energy products via the platforms, such as heat pumps, charging stations and solar panels, in addition to energy contracts. The two companies together employ some 45 people, most of whom are involved in product development and support.
Wai Ki Chiu, Committed Capital:
“Connecthing and Synnion offer each other added value and can jointly benefit even better from the growth in the market. In addition to the content match, they fit in well with our investment philosophy. They are strongly positioned SME’s in a dynamic market that we will actively support by investing in the organization, product development and internationalization.
Jasper de Vroome, Connecthing:
“The energy market is in full swing. This offers opportunities for suppliers and consumers. As an enterprising market player, we are flexible and can switch quickly. Our platform connects suppliers, consultants, consumers and SMEs. The Dutch energy market is at the forefront when it comes to neighbouring countries such as Belgium, France and Germany. We expect that there, too, the willingness to change energy suppliers will increase – partly as a result of further deregulation and increasing competition. Together with our 45 passionate employees and Committed Capital, we want to accelerate the steps we take to be able to respond optimally to this expected growth.”
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About Committed Capital
Founded in 2008, Committed Capital is a private equity investment firm. Committed Capital invests in Dutch SMEs, with proven business models, which are strongly competitive and are highly ambitious to grow. Committed Capital delivers added value by building winning teams that drive the further development, and future expansion, of their companies: https://committedcapital.nl/
Connecthing is located in Breda. The past few years have been dominated by organic growth and the further expansion of the IT platform. In the coming years, the platform will offer more products and services, including sustainable applications. The platform is a B-to-B-to-C solution in which the partners active in real estate, installation industry, retail, telephone sales and home sales (by appointment) are optimally supported in advising their end customers.