Nordian Capital has raised debt to acquire Wetac

November 2023 — Nordian Capital, a Netherlands-based private equity firm, has joined the shareholder base of Wetac Battery Company (Wetac), a leading supplier of batteries, battery systems and accessories for various applications and end markets. The financing was provided by OLB and will support Wetac’s strong growth ambitions.

Wetac foresees various growth opportunities, including developing new products and solutions, targeting new markets and geographies, serving new customers and acquiring other market players. Moreover, the company identifies numerous opportunities in the emerging applications of batteries essential for expediting the energy transition, through solutions such as battery energy storage systems (BESS).

Established in 1985, Wetac is a European high-end battery brands owner and value-added distributor. Over the years, Wetac’s strong innovative capabilities and customer-centric approach helped it to develop a high-end, complementary and coherent product offering. It consists, among others, of stationary battery solutions such as battery racks for uninterrupted power supply and transportation solutions like starter batteries and EV batteries (packs). In addition, Wetac offers a variety of chargers and other accessories to ensure that customers have all the necessary equipment to power their devices. Wetac is headquartered in the Netherlands and has regional offices in Germany, Switzerland, the UK, Greece and the Czech Republic.

Nordian is an independent Dutch investor focused on increasing and accelerating the growth of companies. Founded in 2014, Nordian has contributed to more than 30 companies as a committed investment partner. As an investor focused on increasing and accelerating the growth of companies, Nordian will offer Wetac and its team proactive support in areas such as strategy, financing and add-on acquisitions.

Our role in the transaction

Oaklins’ team in the Netherlands acted as the exclusive buy-side debt advisor to Wetac and assisted in all aspects of this transaction, from structuring and negotiating to aligning the debt financing package with the current business profile and future growth ambitions. This transaction complements a list of successful fundraisings Oaklins has advised on to private equity firms and in the energy (transition) sector.