Convion
Convion, a company developing SOFC systems associated with fuel cells, was sold in autumn 2024 to one of the world’s largest companies in the shipbuilding industry, HD Korea Shipbuilding & Offshore Engineering. The return on investment for those who invested through Springvest was almost five-fold.
Exit type
Acquisition, 8/2024
Purchase price
€72 million
Investment multiple at exit
4.6x
Investment’s IRR
25%
Returns for Springvest
€1.05 million (before taxes)
Valuation before the round was €10.8 million
Springvest’s funding rounds
5/2018
Total funding arranged by Springvest
€2.1 million
