Industry advances for Britain’s smart meters
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New Smart Metering Systems, Horizon Energy Infrastructure and Smart Meter Assets and EQT and GIC, Calisen deals are set to benefit Britain’s smart metering programme.
The Smart Metering Systems (SMS) deal sees the company joining forces with Horizon Energy Infrastructure and Smart Meter Assets to advance smart energy and water solutions in the UK, while also expanding into Germany.
The EQT and GIC investment sees the two companies acquiring a majority stake in Calisen.
SMS, an integrated infrastructure company, intends the partnership to create a leading provider of smart metering infrastructure.
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Horizon Energy Infrastructure and Smart Meter Assets’ portfolio represent a total of 3.5 million installed energy meters. Together the group will manage over 6 million meters.
Horizon Energy Infrastructure and Smart Meter Assets are currently owned by Arcus Infrastructure Partners and will transfer ownership to KKR, who acquired SMS in April 2024.
“The combination represents a meaningful step forward for SMS,” said Tim Mortlock, CEO of SMS.
“It significantly expands our business and enhances our ability to deliver cutting-edge energy solutions to our customers. We are excited to welcome the teams from Horizon Energy Infrastructure and Smart Meter Assets, and look forward to working together to deliver on our shared pipeline and growth ambitions.”
The EQT and GIC investment is planned to support Calisen, an independent owner, manager and provider of energy infrastructure, with the continued rollout of assets, including smart meters, heat pumps and renewable energy systems, in the UK as well as abroad.
It will also explore expanding into adjacent sectors, such as smart water metering.
Sean Latus, CEO of Calisen, said he is delighted to welcome EQT and GIC as new long-term majority owners of the business alongside the continuing investor Equitix.
“Calisen plays an active role in the decarbonisation of the UK economy, a position we intend to strengthen with the support of all of our shareholders. EQT and GIC’s experience in the energy sector will be invaluable as we look to leverage our scale and customer relationships to significantly expand our smart meter portfolio and replicate our success in adjacent areas.”
Both transactions are subject to the standard regulatory approvals and should close in early 2025.
