EQT Active Core Infrastructure Fund and GIC have announced an agreement to acquire a majority stake in Calisen Group, a UK-based smart metering company, from Global Infrastructure Partners, BlackRock, Goldman Sachs Alternatives, and Mubadala Investment Company.
Equitix will retain a minority stake. The transaction is subject to regulatory approvals.
Headquartered in Manchester, Calisen owns, installs, reads, and maintains smart meters, with an installed base of 16 million units. The company aims to expand its smart meter portfolio and diversify into adjacent energy transition assets such as heat pumps and renewable systems.
The rollout of smart meters in the UK is expected to accelerate due to regulatory support for net-zero goals and rising demand for energy-efficient solutions.