Did you know that UK integrated energy infrastructure company Smart Metering Systems (SMS) has agreed to be acquired by US private equity firm KKR & Co in a deal worth €1.6 billion? This surprising development in the energy sector has significant implications for the future of smart metering and carbon reduction. In this blog, we will delve into the details of this acquisition, explore the potential impact on the UK's net-zero ambitions, and discuss the exciting prospects for SMS under KKR's ownership.
Smart Metering Systems, a Glasgow-based company, has agreed to be acquired by KKR for €1.6 billion. This deal will take SMS private and provide the company with the resources and support to accelerate its growth and transition into a fully integrated energy infrastructure company. With its expertise in multi-utility infrastructure connections, meter asset management, and grid-scale battery storage, SMS is well-positioned to contribute to the UK Government's goal of achieving net-zero emissions by 2050.
This acquisition marks a significant milestone in the UK's energy sector. By combining SMS's capabilities with KKR's financial strength and strategic guidance, the company is poised to play a leading role in advancing the country's net-zero ambitions. With a portfolio of operational battery energy storage systems and a pipeline of assets, SMS is well-equipped to support the transition to renewable energy sources and carbon reduction. The integration of smart metering, energy efficiency solutions, and grid-scale battery storage will pave the way for a more sustainable and resilient energy infrastructure.
Under KKR's ownership, SMS will continue its mission to develop behind-the-meter solar, storage, heat, and electric vehicle services for domestic households. This holistic approach to energy management will empower consumers to actively participate in the transition to a low-carbon future. With KKR's support, SMS will expand its portfolio of carbon reduction assets and drive innovation in the energy sector. The acquisition is expected to be finalized in the first quarter of 2024, subject to shareholder and regulatory approvals.
In summary, the acquisition of Smart Metering Systems by KKR represents a significant development in the UK's energy sector. With a focus on carbon reduction and the integration of smart metering and energy infrastructure, SMS is well-positioned to contribute to the country's net-zero ambitions. Under KKR's ownership, SMS will continue to innovate and expand its portfolio of carbon reduction assets. Stay tuned for more updates on this exciting journey towards a sustainable energy future.
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The above analysis is proprietary to Enerdatics’ energy analytics team, based on the current understanding of the available data. The information is subject to change and should not be taken to constitute professional advice or a recommendation.
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