“YES Corporate Finance ensured that I could move on with my business without solely focusing on financing”
YES Corporate Finance has successfully advised Plugwise BV on a recent growth financing. The new funding by ING Bank contributes to the working capital needs of the strong growing company.
Plugwise, based in Sassenheim, is dedicated to design, develop and produce wireless energy- management and control systems. With their sophisticated assortment of smart products and systems, Plugwise provides customers insight in- and control of their energy consumption which enables them to raise comfort and reduce costs. The company has an innovative R&D program and portfolio which leads to quarterly introductions of new products.
Since 2016 Plugwise has two separated brands/product lines that each focuses on different market segments, namely:
The following products are considered as most important to Plugwise:
- Anna: remotely regulator of temperature in buildings
- Adam: central heating monitoring
- Qloud: cloud solution to maintain central heating installations at its best
- Plug: measure and switch of several appliances and lights
Plugwise offers products in more than 50 countries in Europe, Asia and South-America. These customers are served from their main office in The Netherlands and branches in Japan and Australia. Typical customers are mainly installers, architects, building companies, housing corporations, telecom companies and energy companies.
Role YES Corporate Finance
YES Corporate Finance has seconded Plugwise intensively throughout all aspects of the transaction. Amongst others, these comprise of drafting the Financing Memorandum, calculation of the cash planning, finding the most suitable financier, structuring the financing and preparing and guiding discussions.
Norbert Vroege, (CEO and founder of Plugwise):
“In 2007 I founded Plugwise on my own, but now I am working hard together with 30 colleagues to guarantee the success of our company. This also applies to raising capital, where YES Corporate Finance ensured that I could move on with my business without solely focusing on financing”.
Highlights of the transaction:
- Plugwise, an innovative developer of measure- and control systems, has raised new growth financing
- This transaction will help Plugwise in realizing their innovative growth ambitions
- YES Corporate Finance has successfully advised Plugwise on this transaction
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