U.K. meter company expands asset base


Glasgow, U.K. — (METERING.COM) — November 3, 2008 – U.K.-based gas metering firm, UK Meter Exchange, has expanded its asset base with a £2.5 million acquisition from one of its major rivals.

The deal saw UKME, which installs and maintains gas metering and automated meter reading, acquire domestic credit and prepayment meters from Capital Meters, the UK’s third largest provider of meters and services to the gas and electricity metering market.

In a separate £1 million deal, UKME acquired a portfolio of industrial and commercial meters from its sister company, ECO Project Management.

The acquisitions take UKME’s meter portfolio to more than 100,000.

The company’s client base includes companies including Total Gas & Power, Scottish and Southern Energy, Shell Gas Direct, Gaz de France, BP Gas Marketing and ENI UK.