Verdane sells permanent magnet motor specialist SmartMotor to Rolls-Royce
Oslo — Verdane Capital V K/S (Verdane V) has sold portfolio company SmartMotor AS (SmartMotor) in a transaction with Rolls-Royce Marine AS. SmartMotor has increased revenues sixfold during Verdane’s ownership period and moved from being a small Norwegian technology company to a global leader in customised Permanent Magnet (PM) machines.
”Helping Nordic technology-based companies make the transition from local companies to global niche leader is the core focus of Verdane. SmartMotor is yet another example of how a Norway-based company attracts the attention of a leading global player like Rolls-Royce. We are proud of what this organisation has achieved over the last seven years, and how SmartMotor has managed to carve out a strong position in its selected niches”, says Bjarne Lie, Managing Partner at Verdane Capital Advisors and Chairman of the Board of SmartMotor.
During Verdane V’s period as a large shareholder in the company, SmartMotor has tripled headcount, increased revenue sixfold, secured significant industry and research council funding for its technology development, and transformed itself from a purely local customer base to having a global footprint. The PM technology has proven to be disruptive within important application areas, overhauling previously existing technology completely.
SmartMotor‘s product offerings are built on the SmartMotor patented technology platform consisting of permanent magnet based machines, power electronics, controls and system design capabilities. Today, SmartMotor’s technology is deployed within three main areas: Marine & Offshore, Oil & Gas and Renewable Energy Power Generation applications
Helping Nordic technology-based companies make the transition from local companies to global niche leader is the core focus of Verdane. SmartMotor is yet another example of how a Norway-based company attracts the attention of a leading global player like Rolls-Royce.
About Verdane Capital Advisors
Verdane Capital Advisors has over 25 years experience in the venture capital and private equity market as advisor to Verdane Capital funds. The funds act as liquidity providers for owners of unlisted assets, primarily by acquiring portfolios of unlisted companies, but Verdane Capital funds also selectively invest directly in medium-sized individual companies. The committed capital in the funds advised stands at approximately €650m, with a total of over 100 holdings in five different funds. Verdane Capital Advisors has 21 professionals in offices in Helsinki, Oslo and Stockholm. Example investments include: BytHjul, Codenomicon, Liaison Technologies, Mathem, Resman, Wireless Maingate and MJP Marine Jet Power. Examples of earlier investments are Aquagen, Coding Technologies, Chipcon, DIBS, Nacre, Opera Software, Reslink and TradeDoubler. For more information, please visit www.verdanecapital.com
About SmartMotor
SmartMotor offers customized, compact, highly efficient, high-torque electrical machines with drives and controls. The concept is based on patented Permanent Magnetic (PM) technology. Most machine designs are customized to specific, high-torque applications often operating in very harsh and demanding environments, e.g. renewable power generation systems, marine propulsion, winches, pumping and drilling applications for applications such as RIM drive thrusters, contra-rotating wet machines, large diameter wind generators and high-power density pumps. SmartMotor technology makes it possible to replace existing hydraulics and induction machines, while providing lower weight, ease of maintenance and improved efficiency ratio. The former owners of SmartMotor are Verdane Capital V, Trondheim Næringsinvest, Moog Holding and its employees. For more information, please visit www.smartmotor.no
Bjarne Lie
Verdane Capital Advisors
bjarne.lie@verdanecapital.com
+47 918 15 508
Jakob Vågen Gravdal
Verdane Capital Advisors
jakob.gravdal@verdanecapital.com
+47 918 41 814
