Arcus Infrastructure Partners has sold its smart metering businesses, Horizon Energy Infrastructure and Smart Meter Assets (SMA), to global investment firm KKR. Financial terms were not disclosed.
Arcus has worked closely with the respective management teams to transform Horizon and SMA, significantly improving the scale and quality of both businesses through the implementation of a wide range of value-creation initiatives, including winning new contracts with U.K. energy suppliers, raising debt financing, M&A, funding U.K. water meters and German smart meters, and expanding into adjacent green infrastructure, such as heat pumps, EV chargers and solar PV systems.
Under the ownership of Arcus European Infrastructure Fund 2 (AEIF2), which closed in 2020 at €1.2 billion ($1.24 billion), Horizon and SMA secured approximately 3 million new contracted meters with Octopus, OVO, Utilita, SO Energy and EDF, raised £940 million ($1.2 million) of debt financing, implemente
