Secure Meters Ltd — an Indian multinational solutions provider for revenue management, power quality and energy efficiency — has acquired 100 per cent stake in Adaptricity AG, a Switzerland-based premium provider of smart grid solutions.
Adaptricity AG will operate as a subsidiary of the Secure Meters Group.
Singhi Advisors, a global investment bank, acted as the sole advisor to Secure Meters Ltd for the transaction.
The company researches, manufactures and deploys products for measuring and monitoring energy usage, with 50 million meters installed globally. It has a presence in 50 countries.
Adaptricity, majority-owned by €4-billion German multinational Leoni AG, manufactures wires and wire systems. The company was divested as part of Leoni’s focus on core business.
The company is involved with the development, sale and licensing of software products for the simulation, optimisation, planning and monitoring of power distribution grids, as well as providing consulting services for power grid operators.
India’s net zero 2070 goal will not hit peak oil demand target: HPCL
Secure Meters says Adaptricity’s products and markets will give it access to newer markets and product offerings.
Leoni was advised by Proventis Partners, a member firm of Mergers Alliance, wherein Singhi Advisors is the exclusive Indian member and a strategic stakeholder.
IMF welcomes India’s vision on renewables, net zero target
“Adaptricity and Secure Meters’ products, market reach and approach are completely complementary to each other, bringing access to new markets and enabling our combined customers to transition to net zero. It is a synergistic fit... Secure Meters’ existing products being a source of key input data to Adaptricity’s analytics platform,” said Sunil Singhvi, CEO, Energy SBU, at Secure Meters.