Volue Acquires the ProCom Energy Business and Expands European Offering
“We are pleased to announce the investment in ProCom to strengthen our European offering further. ProCom has a strong heritage as a family business providing leading technology solutions for over 40 years to the energy sector and adjacent industries. ProCom has an ambitious growth and expansion strategy, and we look forward to working with the ProCom team in expanding their offering and market presence in this rapidly growing and changing industry, “ says Trond Straume, Chief Executive Officer of Volue.
Volue has entered into an agreement to acquire 100% of ProCom GmbH. From the signing of the agreement, a spin-off of the automation business will be conducted and Volue will acquire the entire ProCom’s Energy business unit. Through the acquisition, Volue will add three million euros in annual recurring revenues, approximately 60 employees and over 60 customers to its business. ProCom is headquartered in Aachen, Germany and has offices in Cologne and Berlin, serving primarily customers in Germany.
“The investment in ProCom is in line with our growth strategy. The ProCom team delivers services covering a large part of the clean energy value chain and will add a complementary offering to Volue’s technology. Like Volue, ProCom is committed to ensuring the efficient use of scarce resources while increasing resilience for its clients. Our ambition is to exercise our option of acquiring ProCom to accelerate our joint offering to reduce carbon emissions and the green transition for our customers, “ Straume concludes.
The parties have agreed to not disclose the financial details of the transaction. The investment is expected to close during September 2021, and the closing will be subject to certain conditions as agreed between the parties.