Stedin sells its commercial metering activities to Censo

Transaction summary

AMSTERDAM, 10 February, 2022 –  Stedin Group and Censo have signed a purchase agreement for the acquisition of TUMS Meetdiensten (“TUMS”). Ownership of TUMS transfers to Censo retrospectively as per 1 January 2022. Under the new ownership of Censo, TUMS will have a strong shareholder that is committed to accelerate the energy transition for businesses in the Netherlands. All employees will keep their jobs with unchanged terms of employment and TUMS will continue to be located in Goes.

Stedin Group’s strategy is aimed at facilitating the energy transition by focusing on the core grid operator tasks and providing excellent service to our customers. TUMS’s activities no longer form a good match with the activities and strategy of the grid operator. This is why Stedin Group started a search for a new owner. Censo sees a lot of potential due to TUMS’s combination of knowledge and experience in the field of metering services to complement its proposition of connecting sustainable energy solutions across the chain.

David Peters, CTO of Stedin Group: “I am pleased that TUMS Meetdiensten will have a strong new owner in Censo. Censo will strive to offer optimal continuity for the business, customers, management and employees. For Stedin Group, an important aspect in the search for a new owner was that all 27 TUMS employees would be able to keep their job.”

Erik Kemink, managing director of Censo: “The acquisition of TUMS is fully in line with our strategy to interconnect energy solutions across the chain. We are looking forward to welcoming our TUMS colleagues and to expand our services to business in the Netherlands.”

Official press release: link

Emendo Capital acted as financial adviser to Stedin Group.

About TUMS

TUMS performs electricity, gas, water, steam and heat measurements for customers throughout the Netherlands. The metering company ensures that measurement data is distributed adequately, thus giving customers more insight into their consumption and helping them to achieve their sustainability objectives.

For additional information on TUMS, visit https://www.tums-meetdiensten.nl/

About Censo

Censo’s aim is to accelerate the energy transition for businesses in the Netherlands, with every organization being 100% carbon neutral by 2030 as its ultimate objective. It considers taking care of organisational and implementation aspects for its customers to be crucial, as they notice that more and more companies seek help in identifying how they should go about putting sustainability into practice. Because Censo believes that offering genuine support requires an integral approach to the energy issue as a whole, they are combining forces across the entire energy chain: Connecting Energy Solutions.

For additional information on Censo, visit https://www.censo.nl/

About Stedin Group

Working together towards a world full of new energy. This is the goal that the approximately 4,000 employees of Stedin Group are striving to achieve every day. We believe that it is our responsibility to ensure that all our customers have access to the sustainable energy they need to live, work and conduct business. Stedin Group is increasing the sustainability and maintaining the robustness and affordability of the energy system. This is achieved through the combined efforts of grid operator Stedin (operating in the greater part of the provinces of Zuid-Holland, Utrecht and Zeeland) and the experts of infrastructure company DNWG Infra.

For additional information on Stedin Group, visit https://www.stedingroep.nl