Smart meter installer Lowri Beck has been acquired by Calvin Capital for an undisclosed sum, subject to certain conditions.
The acquisition will see Lowri Beck join Calvin to create an end-to-end market offering comprising the installation, servicing, managing and funding of domestic metering assets.
It also provides a platform for the future funding, deployment and management of a wider range of digital energy assets, including battery storage and EV charging infrastructure.
Currently Lowri Beck installs and exchanges more than 300,000 domestic meters annually, collects data from another five million meters and is involved in the nationwide smart meter rollout.
Following the acquisition it will continue to operate as an independent brand serving both large and small energy suppliers.
Calvin meanwhile is a meter asset provider (MAP) for energy suppliers in the smart meter rollout. It owns over 7.3 million installed meter assets.
Commenting on the acquisition, Bert Pijls, Calvin chief executive (pictured left), said: “This is a very positive development for two complementary businesses and for the wider energy market.
“Bringing together Calvin with Lowri Beck will enable us to create a ‘one-stop-shop’ offering that will be available to all energy suppliers and new market entrants through a broader array of services, ranging from full metering-as-a-service to bespoke installation, servicing or funding solutions.
“In addition, Lowri Beck’s expertise will help Calvin to accelerate the development of a sustainable digital energy infrastructure beyond smart meters.”
Jon Parr, managing director of Lowri Beck (pictured right), added: “Having built our business on delivering service excellence and innovation, with Calvin’s support we look forward to leveraging the resources of the new combined business to build greater smart meter ownership and installation capacity.
“This agreement also provides a broad platform for developing new services in energy infrastructure growth areas, such as battery storage and EV charging.”