February 20, 2019
Mergers and Acquisitions, Minority Investment
GCA Advised General Atlantic on Its Strategic Partnership with Powercloud
GCA is pleased to announce we advised General Atlantic on its strategic minority investment in Powercloud, a fast-growing provider of comprehensive cloud solutions for the energy sector.
Founded in 2012, Powercloud supports energy supply utilities with innovative digitization solutions. The company offers an array of SaaS products for enterprise resource planning, regulatory processes, settlement and contract and customer management. Using Powercloud’s software, energy providers can better acquire new end-customers with a dynamic pricing engine and improve their management of existing end-customers with full digital processes and automation.
Marco Beicht, Founder and CEO of Powercloud commented: “In Powercloud, we are offering an all-inclusive cloud solution for core processes unfolding in the energy sector. Together with the team from General Atlantic, I look forward to advancing the institutionalization of Powercloud so that we can seek to give our customers even more comprehensive and speedy support in the future. At the same time, Powercloud’s objective is to further extend its lead in relation to its competitors. For a fast-growing cloud software provider like Powercloud, General Atlantic and its global approach as well as its technical expertise is the ideal partner for digital and fast-growing business models.”
Achim Berg, Operating Partner of General Atlantic, added: “We are impressed by the strength of the Powercloud team and the innovative technology developed by the company. General Atlantic plans to assist Powercloud in becoming partners and supporters of the international energy industry. Plans are under way to enlarge the service offering step by step in very close cooperation with the relevant customers.”
GCA acted as exclusive financial advisor to General Atlantic in connection with this transaction. Terms of the transaction were not disclosed.