Smart meter deployments are creating growth in the sector with the need for installation and management services driving deals and expansion worldwide.
In Australia, facilities management company Spotless Group has bought out a retail meter and installation company Utility Services Group for an undisclosed sum, according to The Sydney Morning Herald.
The acquisition positions the company to take the lion’s share of the AUS2.5 billion (US$1.9 billion) smart meter installation market in the Australian states of New South Wales and Queensland, said chief executive Bruce Dixon.
Utility Services Group generates annual revenue of more than AUS159 million ($128 million).
He said there was potential to increase Utility Services Group’s revenue significantly, considering the smart meter roll-out was yet to begin in NSW and Queensland.
Mr Dixon said: “We see great growth in that market.
“Meter reading is one thing but that’s a core run-of-the-mill service they do.
“To put it in context, the New South Wales smart meter market is worth AUS1.5 billion (US$1.1 billion) and Queensland would be AUS1 billion (US$779 million), so there is massive work coming through.”
Smart meter services expansion
Meanwhile in the UK, metering services company for domestic and commercial customers Meter Provida plans to move into a purpose-built building in Derbyshire in northern England.
The company, which supplies devices and stock control services to energy suppliers and installation companies, told local media that it is planning for massive growth when the government kicks off its mandatory smart meter rollout in 2016.
Mr Houtby said the company has gone from GBP18m to GBP30m turnover in the past five years and today employs 49.
Smart metering in homes could see turnover more than double to GBP75m by April 2017, Houtby said.