EQT AB (EQBBF), a Swedish investment organization, Monday announced that the company and Singapore's sovereign wealth fund GIC will jointly acquire a majority stake in UK-based Calisen Group.
EQT and GIC will help Calisen grow by supporting the rollout of energy transition technologies like smart meters, heat pumps, and renewable energy systems, both in the UK and abroad. They will also focus on expanding adjacent sectors, such as smart water meters.
Calisen is an independent provider of smart meters and energy transition infrastructure in the UK, focused on speeding up the shift to a cleaner, more efficient, and sustainable energy sector.
Calisen will be acquired from funds managed by Global Infrastructure Partners, a part of BlackRock, Mubadala Investment Company, and The Goldman Sachs Group.
The financial terms of the transaction, which is subject to the satisfaction of certain conditions including regulatory approvals, were not disclosed.
CEO of Calisen, Sean Latus said, "Calisen plays an active role in the decarbonisation of the UK economy". He adds "EQT and GIC's 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."
Friday, EQBBF had closed its regular trading at $26.22.
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