Equitix Investment Management has acquired the 100 percent equity interest of U.K. smart-metering business Maple TopCo from its founding shareholders, which include OMERS wholly owned subsidiary, Borealis Smart Holdings BV, Ontario Teachers' Pension Plan Board and SSE plc.
MapleCo, one of the U.K.’s largest meter asset providers (MAP) by contracted meters, funds the procurement and installation of electricity and gas meters, in return for fixed payments under long-term agreements with energy suppliers.
“This acquisition furthers our participation in the U.K. smart metering programme which aligns with our business objectives of investing in the country's sustainable energy transition initiatives,” said Achal Bhuwania, deputy CIO for Equitix.
The deal is expected to close in the fourth quarter of 2020. Financial terms were not disclosed.