Linklaters advised EQT Active Core Infrastructure (“EQT”) on entering exclusive negotiations with ICG Infrastructure Equity I (“ICG Infra”) to acquire Ocea Group (“Ocea”), a leading French water and heat submetering infrastructure provider.
Ocea is a provider of smart water and heat metering infrastructure in France. Operating more than 4 million heat and water submeters, Ocea provides a comprehensive range of submetering services to over 7,000 public and private customers.
Applying its track record in the energy and environmental sectors, EQT plans to further accelerate Ocea’s growth in its core submetering business and across other adjacent solutions in the environmental, data management and smart housing segments.
The transaction is subject to customary regulatory conditions and approvals including information and consultation of the works council of Ocea. It is expected to close in Q2-Q3 2024.
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