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Landis+Gyr Group AG, a global provider of integrated energy management solutions, has entered a share purchase agreement to divest its EMEA operations to AURELIUS as the company looks to sharpen its focus on the Americas and Asia Pacific markets.
The purchase agreement values $215 million for Landis+Gyr’s full metering portfolio for residential electricity, ICG electricity, gas, thermal, water, as well as related integrated solutions for software and services. In financial year 2024 the portfolio generated net revenues of approximately $600 million.
The divestment includes five production sites across the region and involves a workforce of approximately 2,700 employees.
AURELIUS, a global private equity investor, also formally offered to acquire Landis+Gyr’s French business, although this will depend on the completion of a works council consultation and acceptance of the offer by Landis+Gyr.
AURELIUS aims to eventually acquire and develop the EMEA business in its entirety, which they say will ensure uninterrupted operations and continued service to utilities and customers across the region.
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Commenting in a release was Peter Mainz, CEO of Landis+Gyr: “This divestment enables Landis+Gyr to sharpen its strategic focus on the Americas and Asia Pacific, regions where the company commands strong market leadership and is capitalising on accelerating demand for integrated smart infrastructure and advanced grid edge intelligence.”
Said Rob Evans, EVP EMEA of Landis+Gyr: “Our EMEA business is built on longstanding partnerships and collaboration, anchored in deep local expertise. We welcome the opportunity to build on our legacy and continue the journey with the strong support of AURELIUS.”
The transaction is subject to customary regulatory approvals and other closing conditions and is expected to close in Q2 2026. Landis+Gyr’s EMEA segment is expected to be classified as discontinued operations in their H1 FY 2025 results, which will be released later this year in October.
Said Franz Woelfler, partner at AURELIUS Investment Advisory: “Landis+Gyr’s EMEA business benefits from favourable fundamental trends in the metering market. AURELIUS is excited to partner with management and the business’ highly skilled employees to bring the enterprise to its full potential, but also to contribute to a more resource-efficient world through its market-leading technology.”
Fabian Steger, managing director AURELIUS Funds IV and V: “I am pleased to see the momentum AURELIUS has built in a challenging M&A market, identifying many attractive carve-out opportunities and converting them into transactions. The acquisition of Landis+Gyr’s EMEA business is another example of this.”
Landis+Gyr intends to return proceeds from the transaction to shareholders through a share buyback programme.
