Leading independent infrastructure manager Ancala has acquired Solandeo, a fast-growing owner and operator of smart meters in Germany.

The acquisition provides the business with fresh capital and the funding certainty needed to meet rapidly growing demand following the German government’s recent mandate that smart meters be rolled out nationally to commercial and residential customers from 2025 onwards. This forms part of the country’s plans to achieve climate neutrality by 2045.

Founded in 2014 and headquartered in Berlin, Solandeo delivers full-scale smart metering solutions. This includes the procurement, installation, operation, maintenance and ownership of smart metering systems for residential and commercial customers. The business has an existing portfolio of installed and active smart meters and a secured orderbook to install a significant number of additional meters.

Solandeo provides producers and suppliers of energy with a cost-effective and reliable smart metering solution. The business uses proprietary IT and software systems to provide customers with the data they need to forecast spend and reduce energy use. It also offers remote control solutions to support the integration of sustainable energy solutions into Germany’s grid.

Solandeo’s services are typically provided under long-term guaranteed contracts. The business works with leading energy providers in Germany including 1KOMMA5°, Sonnen and Enpal, among other key customers.

Ancala’s investment and active asset management approach will drive the company to scale up to deliver best-in-class metering assets and services to the wider German energy market. This includes the accelerated rollout of Solandeo’s substantial order book and the expansion of existing and the development of new customer relationships. Ancala has already enabled Solandeo to agree an expanded partnership with its largest customer 1KOMMA5° which has signed a substantially increased metering contract with the business as part of the transaction.

Following the transaction, the existing management team led by Solandeo Founder and Managing Director, Friedrich Rojahn, together with fellow Managing Director Nora Rieger, will continue to operate the business.

Friedrich Rojahn, Founder and Managing Director, Solandeo comments:

“In Ancala, we have found an investor and strategic owner to drive our strategy forward and allow us to fully capitalise on our leading position in the German smart metering market. With the Ancala team, we will expand the business, lead the smart meter rollout in Germany and play an increasing role in Germany’s energy transition.”

Tim Power, Partner, Ancala, adds:

“Solandeo is a unique platform that will continue to take a leading role in the German mandatory metering rollout, with a particular focus on consumers, producers and energy suppliers in the household and industrial markets. Solandeo’s existing order book, customer relationships and technology provide us with an exciting opportunity to scale into the growth that is now presenting itself. We will be actively working with Friedrich, Nora and the team to deliver Solandeo’s growth plan.”

Ancala has invested almost €1bn in critical infrastructure companies operating within energy transition and renewables. On average, the leading infrastructure investor has provided more than 40% of the initial investment capital in follow-on funding to enable its portfolio firms to grow organically and through acquisition.

Financial details of the transaction are undisclosed.

 

  • Share

Recent news

Ancala bolsters its Investment Team
18 July 2024

Evgeni has over 20 years’ experience working in capital markets, and more than 15 years’ ...

Read more
Embracing uncertainty: Managing downside risk to succeed...
04 July 2024

If there’s one thing investors aren’t supposed to enjoy, it’s volatility. It’s been hard to ...

Read more
Ancala strengthens its Asset Management team
05 June 2024

Sebastian has over 15 years’ experience working in the energy and infrastructure industries. He brings ...

Read more