EQT, GIC to Acquire Majority Stake in UK Energy Transition Infrastructure Company Calisen

Posted by author December 3, 2024 Infra

Strategic Acquisition: EQT and GIC to jointly acquire a majority stake in UK-based smart meter provider Calisen, positioning it for growth in energy transition assets.
Energy Transition Focus: Investment to support the rollout of smart meters, heat pumps, and renewable energy systems in the UK and beyond.
Sector Expansion: Plans to explore adjacent markets like smart water metering to capitalize on infrastructure trends.

STOCKHOLM, Dec. 2, 2024 – EQT Active Core Infrastructure fund (EQT) and global investor GIC have announced an agreement to acquire a majority stake in Calisen Group, a leading UK provider of smart meters and energy transition infrastructure. Minority investor Equitix will remain onboard, while the acquisition comes from funds managed by Global Infrastructure Partners, BlackRock, Goldman Sachs Alternatives, and Mubadala Investment Company.

“Calisen is an exciting investment opportunity, combining significant downside protection and cash flow visibility with tangible upside potential,” said Kunal Koya, Partner at EQT. “Its critical role in the UK’s energy transition aligns perfectly with EQT’s commitment to investing in essential infrastructure that contributes to a more sustainable future.”

Powering the Energy Transition

Headquartered in Manchester, Calisen owns and manages key energy infrastructure assets, including smart meters, EV charging systems, and renewable energy installations. With an installed base of approximately 16 million meters, Calisen is well-positioned to drive the UK’s transition to net zero, supported by strong regulatory frameworks and market demand.

Sean Latus, CEO of Calisen, highlighted:
“Calisen plays an active role in the decarbonization of the UK economy, a position we intend to strengthen with the support of our shareholders. EQT and GIC’s experience in the energy sector will be invaluable as we look to significantly expand our smart meter portfolio and explore opportunities in adjacent markets.”

Long-Term Growth Strategy

EQT and GIC’s investment will fuel the rollout of Calisen’s energy transition assets both domestically and internationally. Key focus areas include:

Smart Meters: Continued UK rollout to improve energy efficiency and grid management.
Renewable Systems: Investment in heat pumps and solar infrastructure.
Adjacent Sectors: Expansion into smart water metering to diversify offerings.

Ang Eng Seng, Chief Investment Officer at GIC, emphasized:
“With steady cash flows and long-term contracts, Calisen is a high-quality business. Smart meters play a crucial role in the energy transition by creating value across the supply chain—from consumer savings to grid efficiency.”

Ang Eng Seng, Chief Investment Officer at GIC

Decarbonization Commitment

This acquisition cements Calisen’s role as a cornerstone in the UK’s clean energy transformation, combining operational excellence with strategic investment. EQT and GIC’s leadership is expected to enhance its growth trajectory and support broader decarbonization efforts.

“We are confident in Calisen’s growth potential as a core infrastructure investment,” added George Kay, Head of Infrastructure at GIC. “We look forward to working with the team to build on this success.”