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CERE (CERTIFICATION ENTITY FOR RENEWABLE ENERGIES)

Acquired by

UL SOLUTIONS

SPAIN Industrial Services EV [1m USD - 100m USD] 08/2023

Target

CERE (CERTIFICATION ENTITY FOR RENEWABLE ENERGIES)

Acquirer

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.

This transaction is part of the Business Services industry, which currently tracks an average EBITDA multiple of 11.3x since the beginning of 2026, a stable level compared to 2025. This data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.

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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

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Equity Value

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Multiples Analysis

EV / Revenue

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EV / EBITDA

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EV / EBIT

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Historical Financials (EUR)

Year
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EBITDA
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2023
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2022
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Other operations with CERE (CERTIFICATION ENTITY FOR RENEWABLE ENERGIES)

mynth data is contributed by M&A / PE professionals and systematically cross-verified against private deal documents and official releases. All source materials are destroyed post-validation to guarantee data anonymity and compliance.