Clearwater International advises Vattenfall on the sale of its subsidiary Feenstra to Groen Holding B.V.
Clearwater International has advised Vattenfall, one of Europe’s largest generators of electricity and the largest producer of heat, on the sale of its subsidiary Feenstra Verwarming B.V., an installer of central heating and mechanical ventilation systems, to Groen Holding B.V., a holding of multiple companies.
With around 38,000 employees, Vattenfall has been active on the Dutch market since the acquisition of the Dutch utility company Nuon in 2009.
Feenstra Verwarming, a subsidiary of the Swedish Vattenfall AB, sold its branches in Snelrewaard, Venray, and Beek to Groen Holding. These three branches primarily focus on the installation of central heating and mechanical ventilation systems in newly constructed properties and housing complexes. With 125 employees, the branches turnover approximately €20m.
Groen Holding, owned by Mr Groen, is a holding of multiple companies. Mr Groen sold the branch in Snelrewaard to Feenstra in 2000.