A consortium consisting of funds managed by Arcus Infrastructure Partners, along with Local Pensions Partnership and Northern LGPS, has agreed to acquire Smart Meter Assets 1 (SMA), an energy-infrastructure provider in the United Kingdom.
BUUK Infrastructure No. 2 is selling the company for €1.22 billion ($1.33 billion) to Arcus European Infrastructure Fund 2 (AEIF2), managed by Arcus Infrastructure Partners, and GLIL Infrastructure, the £2.5 billion ($3.5 billion) infrastructure fund backed by Local Pensions Partnership and Northern LGPS.
SMA is the fifth-largest meter asset provider in the U.K. electricity and gas markets. The company finances and leases smart meters to energy suppliers under long-term contracts and has two primary customers: OVO Energy and Utility Warehouse.
