EQT AB, a renowned Swedish investment firm, announced on Monday that they, in collaboration with Singapore's sovereign wealth fund GIC, will acquire a majority interest in the UK-based Calisen Group.
The partnership between EQT and GIC is set to support Calisen's growth by facilitating the deployment of energy transition technologies such as smart meters, heat pumps, and renewable energy systems, both within the UK and internationally. Additionally, they aim to broaden their scope by delving into related sectors, such as smart water meters.
Calisen operates as an independent provider focused on smart meter and energy transition infrastructure within the UK, with an emphasis on accelerating the transition towards a cleaner, more efficient, and sustainable energy landscape.
This acquisition will see Calisen transition from current ownership under funds managed by Global Infrastructure Partners, as well as entities such as BlackRock, Mubadala Investment Company, and The Goldman Sachs Group.
Although the transaction remains subject to certain conditions, including regulatory approvals, the specific financial details have not been made public.
Sean Latus, CEO of Calisen, commented, "Calisen actively contributes to the decarbonization of the UK economy." He further stated, "The experience EQT and GIC bring to the energy sector will be instrumental in allowing us to expand our smart meter portfolio and capitalize on our scale and customer relationships to achieve similar success in related areas."
As of Friday's closing, EQBBF was trading at $26.22.
