Infrastructure fund manager Ancala has acquired German smart metering operator Solandeo for an unspecified amount.
Berlin-headquartered Solandeo, founded in 2014, provides smart metering solutions including the procurement, installation, operation, maintenance and ownership of smart metering systems for residential and commercial customers.
Ancala said the acquisition will inject new capital into Solandeo, providing the financial security needed to address the growing demand. This growth is driven by the German government’s recent mandate requiring nationwide installation of smart meters in both commercial and residential buildings starting in 2025.
Tim Power, partner at Ancala, said: “Solandeo is a unique platform that will continue to take a leading role in the German mandatory metering rollout, with a particular focus on consumers, producers and energy suppliers in the household and industrial markets.
“Solandeo’s existing order book, customer relationships and technology provide us with an exciting opportunity to scale into the growth that is now presenting itself. We will be actively working with Friedrich, Nora and the team to deliver Solandeo’s growth plan.”
Friedrich Rojahn, founder and managing director of Solandeo, said: “In Ancala, we have found an investor and strategic owner to drive our strategy forward and allow us to fully capitalise on our leading position in the German smart metering market.
“With the Ancala team, we will expand the business, lead the smart meter rollout in Germany and play an increasing role in Germany’s energy transition.”
An earlier version of this story contained an error in the third paragraph, where Ancala was incorrectly referred to as Antin. This has been corrected.
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