A Greater Manchester company which installs domestic meters for energy suppliers has been sold.
Calvin Capital has agreed to acquire Wigan-based Lowri Beck, for an undisclosed sum.
The acquisition will see Lowri Beck join Calvin to create an end-to-end market offering comprising the installation, servicing, managing and funding of domestic meters.
This agreement also provides a platform for the future funding, deployment and management of a wider range of digital energy assets, including battery storage and EV charging infrastructure.
Lowri Beck was formed by its founder Bob Vernon over 20 years ago and today has a workforce of approximately 2,000 people across Britain, with offices in Wigan and Dunstable, plus a dedicated training centre in Ashton-in-Makerfield.
The company currently installs and exchanges over 300,000 domestic meters annually, collects data from another 5 million meters and is heavily involved in the nationwide smart meter roll-out. It will continue to operate as an independent brand serving both large and small energy suppliers.
Calvin is a leading meter asset provider (MAP) for energy suppliers in the roll-out of smart meters and in the development of a digital energy infrastructure.
Calvin owns over 7.3 million installed meter assets.
Bert Pijls, Calvin’s CEO, said: “This is a very positive development for two complementary businesses and for the wider energy market.
"Bringing together Calvin with Lowri Beck will enable us to create a ‘one-stop-shop’ offering that will be available to all energy suppliers and new market entrants through a broader array of services, ranging from full Metering-as-a-Service to bespoke installation, servicing or funding solutions.
“In addition, Lowri Beck’s expertise will help Calvin to accelerate the development of a sustainable digital energy infrastructure beyond smart meters.”
Jon Parr, MD of Lowri Beck, said: “We are excited to be joining Calvin. Having built our business on delivering service excellence and innovation, with Calvin’s support we look forward to leveraging the resources of the new combined business to build greater smart meter ownership and installation capacity.
"This agreement also provides a broad platform for developing new services in energy infrastructure growth areas, such as battery storage and EV charging.”
‘Death tech’ start-up Guardian Angel aims to make funeral planning easier after raising £500,000
Online platform gives boost to commercial property experts Land Law
