EQT, GIC to Acquire Majority Stake in UK Energy Transition Firm Calisen

EQT Active Core Infrastructure and global investment firm GIC have announced plans to acquire a majority stake in Calisen Group, a leading UK-based provider of smart meters and energy transition infrastructure. This strategic acquisition, supported by minority investor Equitix, marks a significant step toward expanding Calisen’s role in driving the energy transition within the UK and exploring new opportunities in adjacent markets.

The deal involves the purchase of stakes from funds managed by Global Infrastructure Partners, BlackRock, Goldman Sachs Alternatives, and Mubadala Investment Company. It underscores EQT and GIC’s commitment to investing in sustainable infrastructure aligned with global decarbonization goals.

Calisen, headquartered in Manchester, owns and operates critical infrastructure assets, including approximately 16 million installed smart meters. The company also focuses on deploying energy transition technologies such as heat pumps, electric vehicle (EV) charging systems, and renewable energy solutions. Its operations are supported by favorable regulatory frameworks and increasing market demand, making it a cornerstone of the UK’s push toward net-zero emissions.

"Calisen is an exciting investment opportunity, combining significant downside protection and cash flow visibility with tangible upside potential," said Kunal Koya, Partner at EQT. "Its critical role in the UK’s energy transition aligns perfectly with EQT’s commitment to investing in essential infrastructure that contributes to a more sustainable future."

EQT and GIC’s acquisition aims to strengthen Calisen’s position as a leader in the energy transition sector. The investment will facilitate the expansion of smart meter deployment across the UK while positioning Calisen to diversify its offerings. Key growth areas include accelerating the rollout of advanced metering systems to enhance energy efficiency and enable better grid management, investing in heat pump installations and solar infrastructure to support the transition to clean energy, and exploring opportunities in smart water metering to capitalize on emerging infrastructure trends.

“With steady cash flows and long-term contracts, Calisen is a high-quality business,” said Ang Eng Seng, Chief Investment Officer at GIC. “Smart meters play a crucial role in the energy transition by creating value across the supply chain—from consumer savings to grid efficiency.”

Under the new ownership structure, Calisen will receive the resources and expertise necessary to accelerate its contributions to the UK’s decarbonization efforts. The partnership with EQT and GIC is expected to enhance operational capabilities and facilitate Calisen’s exploration of new markets domestically and internationally.

"Calisen plays an active role in the decarbonization of the UK economy," said Sean Latus, CEO of Calisen. "EQT and GIC’s experience in the energy sector will be invaluable as we look to significantly expand our smart meter portfolio and explore opportunities in adjacent markets."

EQT and GIC’s strategic investment highlights their long-term vision for sustainable infrastructure. By focusing on innovative energy transition technologies, the acquisition positions Calisen to address pressing environmental challenges while meeting the needs of consumers and businesses alike.

The deal also reflects a broader trend in the energy sector, where companies are investing in advanced technologies to support global decarbonization goals. As regulatory frameworks and market dynamics evolve, investments in infrastructure like smart meters and renewable energy systems are becoming critical to achieving sustainability targets.

“We are confident in Calisen’s growth potential as a core infrastructure investment,” said George Kay, Head of Infrastructure at GIC. “We look forward to working with the team to build on this success.”

With its extensive portfolio of smart energy solutions, Calisen is poised to play a pivotal role in the UK’s energy transition. By enabling more efficient energy management and supporting the deployment of clean technologies, the company is helping to create a sustainable future.