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Engie’s Flashnet Sale Driven by Kurrant
🔍 Context
Engie, along with the co-founders of Flashnet, a Romanian based smart streetlighting vendor, sought Kurrant’s advisory expertise for the sale of the majority stake in Flashnet. The goal was to align the company’s future with a technology group boasting global reach and expertise in IoT and smart cities, facilitating the realization of Flashnet’s vision while surpassing financial expectations.
⚡ Challenge
The challenge revolved around identifying the right buyer that not only resonated with Flashnet’s vision but also had the requisite technological acumen and global presence. Kurrant was tasked with devising a strategy to conduct a targeted sales process that would garner competitive interest and ultimately result in a successful acquisition.
⭐ Deliverables & Outcomes
Kurrant’s advisory manifested in the preparation of a focused Information Memorandum (including a Business Plan) that encapsulated Flashnet’s value proposition and potential. Additionally, Kurrant orchestrated a competitive process involving several potential buyers, facilitating a thorough evaluation to ensure the best fit.
The acquisition process resulted in the successful acquisition of Flashnet by Lucy Group. This outcome not only aligned Flashnet with a partner capable of nurturing its vision but also positioned the co-founders for enhanced success.
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“Kurrant’s advisory expertise was essential during the process of selling our majority stake in Flashnet. Their industry knowledge and strategic approach ensured we reached the right buyer. The transition to Lucy Group, facilitated by Kurrant, was a testament to their meticulous planning and execution.”
Louis-Frederic Robin
Head of Low Carbon Cities - Engie -
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