EQT and GIC to acquire majority stake in Calisen, a leading independent smart metering company in the UK
Summary
The Company is a provider of smart meters, electric vehicle charging, solar and battery, and heat pump installation, meter reading, maintenance and ancillary services, whose purpose is to accelerate the development of a cleaner, more efficient and sustainable energy sector.Operating under long-term contracts, Calisen has firmly established itself as a provider of choice in the UK thanks to its scale, operational excellence, and strong customer relationships. It will also explore expanding into adjacent sectors, such as smart water metering.Kunal Koya, Partner in EQT Active Core Infrastructures Advisory Team, said: "Calisen is an exciting investment opportunity, combining significant downside protection and cash flow visibility with tangible upside potential. Its critical role in the UKs energy transition aligns perfectly with EQTs commitment to investing in essential infrastructure that contributes to a more sustainable future. Our investment will support the roll out of meters across the UK and we look forward to working with management, EQT and Equitix to grow the business for the long term. EQT and GICs 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.