Arcus Infrastructure Partners announced on LinkedIn that a portfolio company of Arcus European Infrastructure Fund 2 (AEIF2) has agreed to buy out National Grid Smart (NGS), a meter asset-provider in the United Kingdom, from National Grid.
The acquisition will be made via the entity that also funds Horizon Energy Ventures, Arcus’ longest-owned smart meter-asset provider. Horizon works with its partners to offer their customers financed energy-technology options ranging from electric vehicle charging infrastructure solutions to heat-pump installations, solar-generation and battery-storage systems.
“Following the acquisition, NGS will be renamed HGS and will be managed by the Horizon management team,” said Arcus. “NGS will add 200,000 meters [656,158 feet] to its portfolio, providing diversification and economies of scale as well as supporting the environmental and social benefits inherent in the smart meter rollout.”
AEIF2 held its final close in April