Nordic Sustainability conducted a light ESG due diligence assessment in collaboration with Viessman Generations Group on a potential investment into GRITEC. The project worked across three weeks with a focus on looking at regulatory, value chain, material and climate specific risks.
The brief
The Viessmann Generations Group needed a light ESG assessment to feed into its due diligence process in the pre-deal phase for the acquisition of GRITEC. GRITEC is one of Europe’s largest solution providers of turnkey technical buildings and stations for energy-, water- and industrial infrastructure. The company specialises in intelligent infrastructure and key components in the shift towards a decentralised and renewable-based energy grid.
Our approach
The project was divided into two phases: 1) Light ESG screening and 2) Executive interviews and the development of a recommendation memo for the board.
In stage 1, Nordic Sustainability conducted a light ESG due diligence assessment with a focus on current and future state of ESG in the grid infrastructure sector and transformer stations, impacts, risks and potential opportunities.
The analysis was a combination of Nordic Sustainability’s in-house expertise of policy trends and effects, climate and decarbonisation potential, sustainability related risks and opportunities. The research was based on desk research, and screening of materials provided by the Viessmann Generations Group.
Result
Based on the analysis, Nordic Sustainability could rule out the existence of sustainability related red flags and identify key focus areas. GRITEC is 100% part of the Viessmann Generations Group.