IMServ, a UK pioneer in smart metering technology and data for the industrial, commercial, and domestic electricity sectors, has partnered with energy transition leader private equity firm Bluewater through a successful acquisition from respected international energy company Schneider Electric. The value of the transaction is undisclosed.
“We are delighted to have acquired what is already a market-leading company in IMServ. The company has been at the cutting edge of metering technology for twenty years and the team members are genuine pioneers in the sector. Steve and his skilled management team are hungry for growth; they take a hands-on approach in the business and are supported by an experienced and knowledgeable 500-strong workforce. We’re really looking forward to working closely with IMServ and enabling its next stage of growth,” said Thomas Sikorski, Co-Founder of Bluewater.
IMServ is a leading provider of electricity metering services (both installation and management of smart and advanced meters), data services(smart and advanced meters data analysis and management) and visualization services. At the business’ core is a range of specialist electricity metering technologies, along with highly accurate energy data collection services. This is presented to suppliers and end-users in a seamless, intuitive online data management analysis and reporting platform.
IMServ is now one of the UK’s largest independent energy data management providers, and is enabling the decentralisation of power generation and digitalisation of the electricity market.
Steve Brown, Managing Director of IMServ, said, “Bluewater is the perfect partner for IMServ. Their energy transition expertise and financial strength will allow us to take advantage of the huge growth potential arising from energy transition. In addition, with capital to deploy, we are now looking at several acquisition options to drive our expansion in the UK and other European markets.”
Its technology today is managing more than 25% of all the electricity that goes through the National Grid. The company has gone from strength to strength as smart meters have become a fundamental platform to deliver data that helps reduce carbon emissions.
IMServ will continue to be led by Managing Director Steve Brown, allowing the company to transition seamlessly and to continue offering best-in-class service to customers (including energy suppliers and end-users), employees, and other stakeholders.
Steve and the IMServ leadership team were attracted to Bluewater’s deep sector knowledge, supportive financial and business mindset, and the private equity firm’s drive to embrace the energy transition. Bluewater’s tried and tested approach to enabling rapid growth is a perfect fit with IMServ’s own ambitious growth strategy, which has responded to government mandated demand for smart metering and more efficient management of energy use.
The IMServ strategy sees significant growth opportunities in several areas in the UK and internationally: the expanding data settlement market to support the needs of the flexible energy transition; organic growth through increased uptake of smart meters in the commercial and domestic electricity markets; and potential mergers and acquisitions nationally and overseas, with announcements of this kind expected within the next six months.
IMServ is one of the UK’s leading Energy Data Collection and Meter Operations service providers and is an award-winning pioneer of metering and data collection services for the electricity, gas, and water sectors. IMServ is headquartered in Milton Keynes, UK, and has expanding operations in the Netherlands.
Through the government-mandated smart meter rollout IMServ is playing a central role in the energy transition, making energy usage more efficient while helping to cut emissions.
In 2019, IMServ became the first non-domestic metering business to become a user of DCC services in the Other User (OU) role for smart meters.
Bluewater is a specialist international private equity firm focused on the middle-market energy sector. Their experienced investment and operating professionals drive value creation as they manage $2.5billion of investment across a portfolio of 22 companies. Today, Bluewater has a prime focus on projects or technologies that contribute to the energy transition agenda and works to a diversified investment strategy based on the principles of sustainability and close working partnerships with best-in-class management teams. Bluewater has a strong focus on ESG and is a signatory to the UN Principles for Responsible Investment.
Source and photos: Bluewater & IMServ
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