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Mubadala sells stake in UK smart meter provider Calisen

By Chris Hamill-Stewart
An older white woman checks a smart meter at home. Mubadala says Calisen has an installed base of 16 million smart meters Pexels/Centre for Ageing Better
Mubadala says Calisen has an installed base of 16 million smart meters
  • Deal values Calisen at $5.1bn
  • UK’s leading smart meter company
  • Europe “clean” tech deals hit $24bn last year

Abu Dhabi’s sovereign wealth fund Mubadala Investment Company has completed the sale of its indirect stake in Calisen, a UK supplier of energy smart meters.

Private equity infrastructure investors EQT and Singaporean sovereign wealth fund GIC will buy Calisen in a deal that values the company at around $5 billion.

Mubadala, BlackRock and Goldman Sachs Alternatives took Manchester-based Calisen private in 2021 through a $1.8 billion leveraged buyout.

Calisen provides services around smart energy, including smart metering, data services, solar and battery, electric vehicle charging infrastructure and the electrification of heating. Mubadala said Caisen had an installed base of 16 million smart meters.

Mubadala is aiming to capture value from its investments with well-timed exits, Saed Arar, head of infrastructure at Mubadala, was quoted as saying in a press statement.

The “clean” technology market is growing rapidly in Europe. In 2024, European private equity deal value reached $24 billion, according to PitchBook data.

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