Ara Partners, a private equity firm focused on industrial decarbonization investments, has acquired a majority interest in Wattstor, a provider of automated carbon reduction and electricity technology for small and medium-sized enterprises and middle-market industrial and commercial end users.

Headquartered in the U.K. and Czech Republic, Wattstor currently operates sites in the U.K., Czech Republic, Slovakia, Croatia and Poland. The company aims to use the funding to drive its European foothold, launch its energy-as-a-service (EaaS) finance offering, boost research and development and expand the team by over 50 percent in the next year. Wattsor’s existing investor, Janom, will retain a minority interest.

“Ara’s existing portfolio of investments is complementary to Wattstor’s position in the market, and it will help us to deliver our simple-yet-sophisticated carbon reduction and cost-saving technology to I&C end-users across new regions as well as to launch a fully financed EaaS solution which will be a game changer for the adoption of behind-the-meter generation plus storage technologies,” comments Stephan Marty, CEO at Wattstor.