Global law firm Clifford Chance has advised Calisen on a £500 million long-term financing to support the continued growth of its UK smart metering business and expansion into international markets and adjacent sectors.
Calisen is a leading UK energy metering asset provider and metering infrastructure business. Backed by a consortium of leading infrastructure investors comprising EQT, GIC and Equitix, the company owns and manages a substantial portfolio of smart meters and related energy infrastructure assets across the UK and Germany.
The financing provides a long-term funding platform to support the company’s next phase of growth. The transaction will enable Calisen to continue investing in the UK’s smart metering rollout whilst pursuing opportunities in new markets and complementary sectors.
Smart metering infrastructure plays a vital role in the modernisation and digitalisation of energy networks, helping consumers better manage energy consumption and supporting the transition to a more efficient, flexible and sustainable energy system.
Praveen Jagadish, partner, commented: “We were delighted to advise Calisen on this important transaction, and to continue our support of the business which now spans a series of strategic financing, commercial and M&A transactions over almost 10 years. That Calisen was able to attract a large number of leading bank and institutional funders to this common terms platform confirms its status as a leading infrastructure business which is playing a key role in the ongoing transformation of the energy sector. This financing also reflects the market’s confidence in its business model and management team. We extend our congratulations to the entire Calisen team, and to Evercore and Santander as advisers alongside us.”
The Clifford Chance team was led by partner Praveen Jagadish with support from senior associates Ben Evans, Samiha Bham and Will Martin, and associates Jack Foley, Jasmin Sahota, Kirsty Jones, Seika Osafune, Lily Grant, Amelia Seymour and Luna Owen. Tax support was provided by Jemma Dick and Marco Montanaro, whilst Anne Drakeford and Konstantin Korennoy advised on hedging.
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