Water efficiency specialist Smartvatten has acquired VertoNordic Oy, a leading provider of apartment level water metering systems. With this acquisition, Smartvatten expands its service from main water meters to submeters, helping its customers fulfill the EU requirements for consumption-based billing and enhancing the accuracy of its leak detection system even further. Translink Corporate Finance acted as financial advisor to Smartvatten.

Smartvatten is a hardware-enabled SaaS company, providing its customers with a complete solution for real-time monitoring and reporting of water consumption in buildings. Their customers reduce their water costs and the risk of water-related damage, while improving their sustainability performance. The company’s purpose-built software analyses water consumption data from mechanical, digital, and IoT-enabled water meters in a cloud environment to identify consumption patterns and detect leaks.

After Norvestor became a majority investor in 2021, Smartvatten has set significant growth targets for the coming years. To achieve the European water champion position, Smartvatten is focusing both on organic growth and on expanding through mergers and acquisitions. With the acquisition of Verto, the combined entity’s pro-forma turnover in 2022 is expected to be €15 million.

VertoNordic Oy is the best-in-class submetering company with more than 35 years of experience. Verto is the market leader in Finland for household-specific water metering systems. They are an excellent match for Smartvatten both in values and objectives.

“Both companies have done an excellent job in providing the tools and expertise to improve water efficiency, and by combining our services, we will introduce our customers to a completely new and enhanced water efficiency service,” says Jussi Niiniaho, CEO of Smartvatten.

Antti Salakka, CEO at Verto continues: “Verto has been developing and marketing submetering products for more than three decades, and it’s been our clear mission to offer first class products and services. Our customers find our products reliable and our services valuable. Smartvatten is a widely spread company and shares the same values, targets and ambitions as Verto. This makes it the best possible fit for both companies to expand our global footprint and customer offering.”

Smartvatten was delighted to engage Translink Corporate Finance to lead the acquisition process: “Translink’s advisory role was instrumental to get this deal done. We were impressed by their work quality and attitude to push things forward, and look forward to working with them again”, says Petter Quinsgaard, Executive Chair at Smartvatten.