Deas buys IQ Energy Nordic in digital transformation drive

Deas Group has acquired IQ Energy Nordic in order to drive its digital transformation. The Copenhagen-based group will become the sole provider in the Nordics of Eniscope, a proptech-enabled energy data management system.

Rykke Lykke.

The system enables property owners to monitor all energy consumption – heating, water, gas and electricity – within a given a given building, allowing for the optimisation of individual assets. At the same time, the method allows investors to comply with current regulation on reporting energy consumption data across the Nordic region.

The addition of IQ Energy Nordic to Deas strengthens the group’s green focus, which was launched  by Rykke Lykke on her appointment as CEO in August 2021.

“The acquisition is a vital part of our constant analysis of the requirements that may arise in the future, both from investors and from tenants,” said Lykke. “We want to assist and advise both parties in meeting sustainability requirements and goals this year and in the future.”

Deas now has 30 employees dedicated to sustainability, who advise investors on their assets within the €39 billion portfolio managed by Deas Group. IQ Energy Nordic will be incorporated into Deas sustainability services and become part of the advisory offering.

“IQ Energy Nordic traditionally has focused on offering the system and providing advice on energy optimisation based on data from the system, but adjacent sustainability services have not been within their scope,” said Lykke. “This is why it fits well into Deas Group’s portfolio of services. I expect synergies from the introduction of this solution to the property industry.”

Eniscope, the energy management system, is currently used in more than 40 countries. In the Nordics it has so far been used in retail and industry. Frank Schyberg and Jesper Kjærulff, founders and former owners of IQ Energy Nordic, said its role will be enhanced by Deas, thanks to the company’s Nordic profile and access to large property portfolios.

The acquisition price was not disclosed. Deas said it was “a double-digit DKK million amount”.