22 November 2022 Deals | Network Utilities
Sector/region: UK/ Network Utilities
Equitix is delighted to announce news of its major milestone transaction, a stock funded investment in Calisen, which has in turn agreed to acquire MapleCo, an investment which will give a broader range of energy infrastructure services to the UK’s energy retailers.
Calisen’s mission of delivering smarter energy infrastructure to as many customers as possible, helping to enable the transition to Net Zero, aligns with our own vision for the future.
Equitix’s initial investment will achieve a meaningful stake in the combined business.
This transaction will enable Calisen to reach more customers, as well as explore its opportunities in new sectors like EV charging and the electrification of heat. Smart meters are an enabler of a decentralised and digital energy landscape in Britain, and an element of the investment required for decarbonization and reaching the UK’s Net Zero target. MapleCo, with its existing meter portfolio and contracts for further growth, will benefit from being part of an enlarged group with high levels of customer service and a broader service offering.
The partnership we provide Calisen means we are able to provide our long-term and experienced support in meter rollout and full commitment to their strategy and mission.
Sean Latus, Chief Executive of Calisen, said: “I’m delighted to be able to extend the Calisen business through the acquisition of MapleCo, subject to competition approvals. Adding new customers and enlarging our investor base creates a positive step-change for Calisen to continue its mission of delivering smarter energy infrastructure in support of the UK’s transition to net zero. I’m looking forward to working with the MapleCo and Equitix teams, who together with our Calisen colleagues, will continue to provide a safe and high-quality service to our customers.”
Achal Bhuwania, Chief Investment Officer of Equitix, said: “We are delighted to invest in Calisen and support the acquisition by Calisen of MapleCo. Not only does this transaction help us to achieve our business goals and that of our investors, but it aligns with our strategic goals to invest in the critical development of energy infrastructure, support the UK Government’s net zero targets and energy security requirements as well as investing in an asset which gives consumers near-real time information which they can use to manage their energy use and cut their bills to help with the cost of living.”
Congratulations to all the individuals and advisers (Credit Suisse, Macquarie Group, Clifford Chance and Ashurst) involved in this project, especially our Equitix deal team for their spectacular efforts, including, Aisha Hamid, CFA Phil Skerman, CFA, Megan Chamberlain, Marta Vilaplana, CFA, George Hailstone and Achal Bhuwania.
We look forward to our partnership with Calisen, BlackRock, Goldman Sachs Asset Management and Mubadala.