References/27 May 2022
Borenius advised Smartvatten on its acquisition of Neuroflux
We advised Smartvatten on its acquisition of Neuroflux. Smartvatten is a property water efficiency service company undergoing international growth, while Neuroflux is a software company that specialises in the management of the wastewater networks of water utilities. The transaction supports Smartvatten’s goal of maintaining its position as the leading water efficiency service company in Northern Europe.Neuroflux has developed a cloud service that enables water utilities to combine, visualise, and analyse data from the existing wastewater network. The service uses machine learning to identify leaks in the wastewater network. Real-time alerts reduce overflows and help water utilities optimise the efficient functioning of the wastewater network. The service is used in several water utilities in Finland and Sweden, such as HSY, which is responsible for water supply in the Helsinki metropolitan area.
Smartvatten recently hired its 100th employee, and the group’s net sales will triple this year to around EUR 15 million. The company’s growth is driven by the water efficiency service it offers for properties, where the water used by the entire property can be remotely read from both the main water meters and apartment-specific submeters. In March 2022, Smartvatten acquired VertoNordic Oy, a Finnish manufacturer of remotely readable water meters.
In addition to strong organic growth, Smartvatten intends to continue making acquisitions.