EQT and GIC Join Forces to Enhance Smart Metering in UK

Strategic Acquisition of Calisen by EQT and GIC

EQT and GIC have recently announced their plans to acquire a majority stake in Calisen, a prominent independent provider of smart metering solutions and energy transition infrastructure in the UK. This significant transaction reflects the commitment of both EQT and GIC to accelerate the growth of Calisen, aiming for expansion not only within the UK market but also into adjacent sectors.

Calisen's Mission and Market Position

Calisen stands out as a crucial player in the energy sector, focusing on developing a cleaner, more efficient, and sustainable energy landscape. Its services include smart meters, electric vehicle charging stations, solar, battery installations, and more. Headquartered in Manchester, the company has carved out a solid reputation, thanks to its operational excellence and robust customer relationships.

Leading the Energy Transition

With approximately 16 million installed meters, Calisen positions itself advantageously to leverage market trends that are crucial for the ongoing energy transition. The regulatory framework in place strongly supports the roll-out of smart meters, which will not only enhance energy efficiency but also aid in balancing the electricity grid. This growing demand caters to both energy suppliers and consumers alike.

Plans for Future Growth and Investments

Through this acquisition, EQT and GIC plan to fuel Calisen's long-term ambitions by fostering the development of energy transition-related assets. Their investment will also explore opportunities to enter new markets, such as smart water metering, thereby diversifying Calisen's portfolio and operations.

Expert Perspectives on the Investment

Kunal Koya, a Partner in EQT's Advisory Team, expressed enthusiasm about the acquisition, highlighting Calisen's critical role in the UK’s energy transition. He emphasized how this investment aligns with EQT’s mission to acquire essential infrastructure contributing to sustainability.

Ang Eng Seng from GIC shared similar sentiments, mentioning Calisen’s solid market position and the benefits of an integrated business model that allows for control over the entire meter lifecycle. This approach is expected to provide steady cash flow, vital for long-term growth.

The Importance of Smart Meters

In remarks made by George Kay, Head of Infrastructure at GIC, he highlighted the essential role of smart meters in energy transition. These devices not only empower consumers to monitor their usage but also enable suppliers to manage costs effectively. The partnership aims to extend the reach of smart meters across the UK, driving efficiency and sustainability.

Looking Forward: The Role of Stakeholders

Sean Latus, CEO of Calisen, welcomes EQT and GIC as new stakeholders, recognizing the potential for growth through their expertise in the energy sector. Calisen aims to expand its smart meter services and replicate its success in other markets, bolstered by the support of its investors.

The successful completion of this transaction is contingent upon meeting certain conditions, including regulatory approvals. As the energy market evolves, partnerships like this one will play a pivotal role in shaping a sustainable future.

Frequently Asked Questions

What is the significance of the acquisition by EQT and GIC?

This acquisition aims to accelerate Calisen's growth in the smart metering market and transition towards sustainable energy solutions.

How does Calisen contribute to the energy transition?

Calisen provides critical infrastructure through smart meters and renewable energy systems, playing a vital role in energy efficiency and sustainability.

What are the future plans for Calisen following this acquisition?

Plans include expanding into adjacent sectors like smart water metering and enhancing the rollout of existing energy transition-related assets.

Who are the key stakeholders involved in this deal?

The key stakeholders include EQT, GIC, and Equitix, with EQT and GIC acquiring the majority stake.

What conditions must be met for the transaction to proceed?

The transaction is subject to the satisfaction of regulatory approvals and other specified conditions.

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