Argo advises Sofindev on the acquisition of a minority stake in Elindus

Argo acted as legal counsel to Sofindev on its minority investment in Elindus, a Belgian B2B energy supplier based in Waregem.

Sofindev acquired a minority stake in the holding company above Elindus and its sister company Smart at Energy, from existing shareholders. The transaction remains subject to approval by the Belgian Competition Authority (BMA).

Founded in 2012, Elindus has grown into one of Belgium’s leading B2B energy suppliers, ranking third among private B2B electricity suppliers in Flanders and fifth in gas, increasingly evolving from a traditional energy supplier into an integrated energy management platform.. Through Smart at Energy, the group has also built deep expertise in energy trading, forecasting and grid balancing.

The partnership with Sofindev will support Elindus in scaling its customer base, accelerating the commercialisation of new products and expanding its trading activities internationally.

Argo provided legal and tax support to Sofindev across all aspects of the transaction, including legal due diligence, advising on the structuring of the transaction and the negotiation of the transaction documentation.