Arcus Infrastructure Partners has acquired a German submetering provider for its newest fund.
The manager, investing on behalf of Arcus European Infrastructure Fund 3 (AEIF3), has acquired Officium from investment firm EMERAM Capital Partners.
Officium provides long-term rental of submetering equipment and related services for the measurement of heat and water consumption within multi-dwelling properties in Germany. The company owns a portfolio of over one million submetering devices which are leased on a long-term basis to building owners and property managers to service individual dwellings.
Stefano Brugnolo, a partner at Arcus, said: “Having identified the European submetering sector as a key area of focus for Arcus some years ago, we are delighted to be announcing the acquisition of Officium which stood out as a particularly attractive mid-market and independent player in the German market.
“We look forward to supporting the continued growth of the business alongside Stephan Kiermeyer, Officium’s CEO and founder, and bringing to bear our experience in metering from Horizon Energy Infrastructure and Smart Meter Assets to build on Officium’s well-established market position.”
Ian Harding, managing partner at Arcus, said: “We are really pleased to announce the acquisition of Officium by our fund, AEIF3. Arcus has a wealth of experience in the metering and submetering sector and understands its vital role in the energy transition.”
Stephan Kiermeyer, CEO of Officium, said: “We started to consolidate the fragmented German metering market two years ago and, in the process, have been able to aggregate 10 companies around the Officium platform. We are now very happy to have Arcus as a new, long-term partner and majority shareholder.
“With Arcus, we will be even more active in the German market, continuing to strengthen and expand the footprint of our portfolio companies and attracting more regional and national players to our platform. I am very proud of what we have achieved with our partners and employees and look forward to cooperating with Arcus to further strengthen Officium.”
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