Verdane to sell Eniram to global leader in marine and energy markets

Eniram is today the global market leader in offering energy management technology solutions to reduce fuel consumption and emissions for the maritime industry. Its solutions, ranging from single on-board applications to comprehensive fleet analysis, are installed in over 270 vessels, optimizing fuel consumption, increasing profitability and reducing harmful emissions. Eniram is headquartered in Helsinki, Finland, with operations in the UK, the USA, Germany and Singapore.

Verdane has worked closely with Eniram’s management team to outline its strategic direction, including a revised business and go-to-market model as well as refreshed the Company’s product roadmap. In announcing the transaction, Henrik Dahl, CEO and Co-founder of Eniram, commented: “Working together with Verdane has been very rewarding for us. Their level of professionalism and strategic understanding of value creation has been central in building what Eniram is today. During our cooperation, Verdane has given us confidence and support to build and execute our strategy to the fullest”.

During Verdane VIII’s ownership, Eniram has transformed from a provider of hardware and software systems with high upfront instalment costs, to a cash flow positive Software-as-a-Service (SaaS) business with a high share of recurring revenue. “The Eniram team has done a fantastic work executing on the strategy defined about two years ago. By leveraging its vast amount of data collected over several years, the Company is today able to offer world-class analytics as a service for its Tier-1 customers in the maritime industry. These initiatives have been essential in developing scalability ahead of the next phase of growth and speaks to the growth-oriented mindset across Verdane portfolio companies,” says Emanuel Johnsson from Verdane’s investment team and member of the Board of Eniram.

The Eniram award-winning solutions have attracted significant attention from blue-chip companies. In particular, Wärtsilä, global leader in advanced technologies and complete lifecycle solutions for the marine and energy markets, sees strong potential in its complementary offering. Together, they will enable customers to optimize their assets, improve predictability and boost real-time analytics. “Eniram has a very interesting technology roadmap ahead and it is therefore encouraging to see Wärtsilä as the new owner with its focus on marine digitalization”, says Johnsson.

Ownership of Eniram will be transferred to Wärtsilä with effect from 1 July 2016, and the deal value is announced to be €43m.