Blue Pearl Energy, a European energy services platform backed by DWS Pan-European Infrastructure Fund III, has acquired Spanish biomass heating company Calordom.

Blue Pearl has invested an undisclosed amount to buy the Madrid-based central heating energy services company.

Calordom, which was founded in 1999, offers a wide variety of services, including heating systems engineering, procurement and construction, boiler installation and maintenance services, as well as fuel supply.

With the support of Blue Pearl, Calordom expects to accelerate its growth in the financing of new biomass heating systems for its clients through long-term energy services contracts and to expand its business in new customer segments such as hospitality, health and industry.

The deal marks Blue Pearl’s entry into the Spanish market. The company already operates in France and Belgium.

Eric de Seguins Pazzis, CEO of Blue Pearl Energy, said: “This strategic partnership enables us to secure access to the Spanish energy services market with a strong expertise in the community of owners segment, a leadership position in the biomass market, and an asset-based business ideally suited to be combined with our energy performance contract offering. With the role of biomass expected to rapidly grow throughout Europe, this new partnership opens up a world of new opportunities.

“Blue Pearl Energy is still actively seeking other quality SMEs to partner with in Spain. “We trust that our model will enjoy the same success as it did in France and Belgium, where it created a strong appeal among energy services SMEs seeking to scale up without renouncing their company’s autonomy.”

Juan Manuel Cabello, Calordom’s founder and CEO, said: “Throughout its long history, Calordom has thrived thanks to its relentless focus on quality and its ability to rapidly adapt to changing market conditions to seize opportunities as they occur.

“We are now ready to enter the next stage of our development and accelerate our company’s growth. With the support of Blue Pearl, we are confident that we can capture an increasing share of the booming biomass energy market.”

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