A&R steers Grupo Visalia´s acquisition of Watium
Araoz & Rueda has advised Grupo Visalia on its agreement with energy marketer Watium to join the group
This way, Visalia has been able to set up a group of 20 distributors among those with more than 100,000 customers in Spain. Between January 2020 and 2021, they have achieved a growth of 169%, the third-highest in the country’s energy sector (REE data).
Watium brings to the group its experience of almost a decade in the energy sector, where it has added 40,000 individual customers and 25,000 neighbourhood communities.
Pablo Abejas, CEO of Visalia Group, said: “The incorporation of Watium to our group will allow us to accelerate the growth process in the field of natural gas and photovoltaic solar self-consumption.”
For his part, José Carlos Aguilar, CEO of Watium, said: “This new stage of Watium is positive both for the team that forms the company and for Watium’s customers.”
The group recently closed the largest first round of financing for a start-up in 2020 with the entry of the investment fund GreenMont. As a result, it is one of the fastest-growing emerging electricity supply groups in the Spanish electricity market.
With the latest incorporation of Watium to the group and thanks to GreenMont’s boost, Visalia now has 20 distributors. Thus, in less than two years of existence, Visalia has managed to exceed 110,000 customers in Spain and 1 TWh of energy.
With the entry of Watium, Visalia will revise its growth forecast for 2021: a projected turnover of €130 million for the current financial year and 120 employees.
Araoz & Rueda´s team was led by partner Laura Vintanel (pictured left) and associate María Nieto (pictured centre), and included partner Clara Mañoso (pictured right) and associates José Pedro Láinez, Pablo Gamboa, Elly Yazhen Wang, María Cano, Javier Sánchez Sánchez and Juan Viaño García.