EQT and GIC to acquire majority stake in UK’s Calisen from consortium of investors

PRIVATE equity firm EQT and Singapore’s sovereign wealth fund GIC will acquire a majority stake in UK’s Calisen, more than four years after the smart metering company was taken private by a consortium of investors, they said on Monday (Dec 2).

The Financial Times first reported the deal earlier in the day, saying that the stake acquisition valued Calisen at about £4 billion (S$6.8 billion).

Calisen was acquired in 2020, less than a year after its IPO, by a consortium which included units of BlackRock, Goldman Sachs and Abu Dhabi state fund Mubadala Investment for £1.43 billion.

EQT and GIC said they would buy the stake from BlackRock’s Global Infrastructure Partners, the infrastructure business of Goldman Sachs Alternatives, and Mubadala Investment.

Equitix will remain a minority investor, the new majority owners said. REUTERS