Equitix Investment Management Limited has completed the acquisition of a portfolio of industrial gas & electricity meters from Smart Metering Systems (SMS) plc. The acquisition price was GBP 291 million (US$ 358.59 million)

Smart meters work by sending regular meter readings to energy suppliers, enabling customers to be charged more precisely for the energy they have used. The acquisition involves circa 187,000 industrial and commercial meters and is the first such project in this sector for Equitix.

DC Advisory provided M&A advice to Equitix throughout the acquisition process.