CERE (CERTIFICATION ENTITY FOR RENEWABLE ENERGIES) acquired by UL SOLUTIONS
Context
The global safety science leader has successfully finalized the acquisition of a specialized Spanish testing and certification body, marking a strategic expansion of its renewable energy capabilities in Europe. This transaction represents a definitive move to deepen technical operational depth in grid code compliance and grid simulation services, specifically targeting the high-growth sectors of inverter-based resources and electric vehicle adoption. The strategic rationale for the move centers on the acquirer's objective to support global energy transition goals by providing enhanced simulation and certification infrastructure for sustainable energy systems.
CERE (CERTIFICATION ENTITY FOR RENEWABLE ENERGIES), which reported an EBITDA margin of [members only] in 2023, is valued in this transaction at an EV/EBITDA multiple of [members only], to compare with the average currently observed in the Business Services sector (11.4x).
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Target
CERE is a specialized technology organization operating as a third-party testing, simulation, and certification body. The entity’s business model is centered on providing technical validation for inverter-based resources, specifically focusing on renewable energy systems and electric vehicle infrastructure. Its value proposition lies in its expertise in grid code compliance and grid simulation, facilitating the seamless integration of sustainable energy sources into existing electrical infrastructures. Strategically, the firm focuses on high-expertise niches within the machinery, industrial, and medical device sectors, ensuring that complex electrical and electronic products meet stringent international safety and electromagnetic compatibility (EMC) standards. By maintaining a deep technical operational depth in energy transition technologies, the organization ensures a mission-critical role in the global shift toward decarbonization. The entity prioritizes industrialized reliability and technical excellence to support technical innovators in navigating global market acceptance and risk mitigation.
Ent. Value
$10–30M
Equity Value
[members only]
Multiples
EV / Revenue
[members only]
EV / EBITDA
[members only]
EV / EBIT
[members only]
Historical Financials (USD)
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| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 11/2023 | ASHTEAD TECHNOLOGY | ACE WINCHES | UNITED KINGDOM | Equipment Rental |
| 10/2023 | GCA - GROUPE CHARLES ANDRE | GROUPE AUTAA | FRANCE | Equipment Rental |
| 08/2023 | VINCI ENERGIES | INPROCON | SWEDEN | Multi-technical Installation |
| 07/2023 | SER CAPITAL PARTNERS | CHARAH SOLUTIONS | UNITED STATES | TIC (Testing, Inspection, Certification) |
| 05/2023 | LOXAM | MOTORMAC RENTAL | BRAZIL | Equipment Rental |
| 05/2023 | REXEL | WASCO | NETHERLANDS | Industrial & Technical Distribution |
| 05/2023 | TRITON PARTNERS | UNICA | NETHERLANDS | Multi-technical Installation |
| 04/2023 | FRANCHISE BRANDS | PIRTEK EUROPE | UNITED KINGDOM | Welding & Piping Services |
| 03/2023 | LOXAM | JIAB HYRCENTER | SWEDEN | Equipment Rental |
| 01/2023 | SOLOMAT LOCATION | TERMALOC | FRANCE | Equipment Rental |
Other operations with UL SOLUTIONS
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 04/2026 | UL SOLUTIONS | MET LABS | UNITED STATES | TIC (Testing, Inspection, Certification) |
| 07/2024 | UL SOLUTIONS | TESTNET ENGINEERING | GERMANY | TIC (Testing, Inspection, Certification) |
REFERENCES
Valuation range: EV $10–30M
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Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.