NRGreen sold to TSG Group

Transaction

Sell-side

Undisclosed

Role

Adviser to the owners of NRGreen on the sale to TSG Group

Sector

Business Services

Region

Denmark

We have advised NRGreen, a leading provider of rooftop and ground-mounted solar panel solutions and battery storage facilities to commercial customers, on its sale to TSG Group, a leading supplier of technical service solutions and energy infrastructure.

NRGreen is a prominent player in the installation of solar panels, offering complete solar systems to commercial customers in Denmark. The company oversees the entire process —from advisory, design and authority processing to installation, financing and servicing—and, if requested by the customer, ongoing operation and maintenance.

TSG is one of Europe’s leading suppliers of technical service solutions and energy infrastructure, playing a key role in the energy transition for mobility. With unequalled presence in 30 countries, TSG designs, builds and maintains a wide range of energy distribution infrastructure for mobility, including electric vehicle charging networks, GPL/LNG, hydrogen, and fuel/biofuel service stations.

Through this new partnership, NRGreen will leverage a diversified customer base with blue-chip references. The company will also benefit from strategic support to further expand its capabilities and services within the solar panels industry. Following the transaction, NRGreen will continue to operate under its existing management and team, maintaining its focus on delivering high-quality solar panel installation solutions.

I’m very happy with our strong match with TSG, which brings many exciting synergies. TSG is a large business from which we can learn a great deal, and I’m deeply grateful that NRGreen has ended up with someone who can take care of it in an uncertain future, where sustainable energy will require strength to withstand the world’s challenges. I’m also incredibly thankful for the excellent and highly professional support and guidance we’ve received from the Clearwater team throughout the entire process. I’ve felt at ease all the way and felt that my wishes and needs have been heard and respected. With the team’s help, we’ve ultimately arrived at the perfect long-term solution for NRGreen.
Simon Borbiconi, Partner and Co-owner, NRGreen

For a long time, we have experienced strong interest in companies that know how to build a business around the green transition and the expansion of sustainable energy production in Denmark. NRGreen has led the way, showing how solar energy can be both a sustainable and profitable investment for businesses through a proactive sales approach focused on quality, expertise, and tailor-made turnkey solutions centred around the customer’s needs, along with attractive financing options. With TSG behind them, NRGreen gains access to new commercial resources that can help take the business to the next level, both in Denmark and across the Nordics. We look forward to following both parties and would like to express our warm congratulations on the new partnership.
Kasper Glavind Hedegaard, Senior Associate, Clearwater