The UK’s metering management sector experienced further consolidation this week with an announcement that Energy Assets Group (EAG) has bought electricity services company BGlobal Metering.
In a GBP2.3 million deal, gas meter management company EAG is also gaining a foothold in the dual-fuel market with the purchase of BGlobal Metering, which provides advanced metering technology to the UK industrial and commercial sector.
The debt-free, cash deal will see EAG managing around 161,000 meters and data from about 152,500 meter points across the combined gas, water and electricity sectors.
EAG chief executive, Phil Bellamy-Lee, said: “This transaction enables Energy Assets to expand its presence into the electricity sector and is a significant step in the delivery of the group’s strategy to offer services across a multi-utility platform.”
EAG is the UK’s largest independent provider of industrial and commercial gas metering services, and recently reported its installed meter portfolio has grown 25 per cent in the year to March 31, 2014 to around 101,000.
In 2012, EAG bought a subsidiary of Gazprom that doubled its data collection capability.
The deal comes hot on the heels of another consolidation deal in the UK gas and electricity meter management market.
Earlier this month, Smart Metering Systems bought Utility Partnerships in a GBP14 million acquisition to extend the company’s reach into the dual-fuel metering market.
NEC unveils new energy-saving system for Asia Pacific
Deal watch: Mitsubishi selects Itron for major Japanese smart meter rollout
Deal watch: UK meter services market consolidates with £2.3m buyout