On April 5th, Benelux investment company Smile Invest acquired a majority stake in Tenten Solar. Tenten Solar is a market-leading player in the field of solar energy solutions across various customer segments. Together with management, Smile Invest takes over the stake from investor Quadrum Capital.
Tenten Solar provides complete PV Solar installations to private individuals, housing corporations, and businesses. Tenten Solar holds a strong position in the Netherlands, significantly contributing to the sustainability agenda. Tenten Solar operates throughout the Netherlands and is physically located in Lichtenvoorde, Bodegraven, and Tilburg. Smile Invest, along with management, acquires the shares from investor Quadrum Capital, which has been involved with the company since 2019. As a result, the current management team remains in place.
Berry Seesing (CEO), owner and director of the company since 2012, will remain active in his role and will co-invest in the transaction alongside Smile: “The arrival of Smile Invest as a new investor marks the beginning of the next phase for Tenten Solar. Smile Invest brings extensive experience in the field of sustainable technology. Together with the team and Quadrum, we have expanded Tenten Solar over the past few years from a local entity to a nationally operating player. In this new chapter, where quality, further expansion, and diversification are paramount, we believe that Smile Invest, with its network and entrepreneurial approach, will be of great value to us.”
Ivo Vincente and Ad Notenboom, Partners at Smile Invest, add: “We are very impressed by the professionalism and quality of the organization, combined with the relevant position it has been able to achieve in this relatively short period. We strongly believe in the growth ambition where Tenten Solar can further gain market share and broaden its offerings through both organic and acquisitive growth. The entrepreneurial character, coupled with strong ambitions and increasing focus on sustainability, fits perfectly within our investment focus. We look forward to supporting Tenten in this new phase of growth.”
Peter Oostenenk, Managing Partner at Quadrum Capital: “We have enjoyed working with Tenten Solar, Berry Seesing, and his team on the further growth of Tenten Solar. Together, we have doubled the size of Tenten Solar, growing from a local to a national player with three locations, without losing its DNA. We wish Tenten Solar, the team, and Smile Invest much success in the further expansion of the company.”
The transaction is still subject to approval by the ACM (Authority for Consumers and Markets) and will be retroactively effective as of January 1, 2023. The intended transaction is expected to be fully completed before the summer.