IMServ partners with Bluewater and announces ambitious plans for growth.
- IMServ are pioneers in smart meter technology & data collection for the industrial, commercial & domestic electricity.
- IMServ technology manages more than 25% of UK electricity consumption, accounting for £10bn of electricity sales per annum.
- IMServ is at the forefront of equipping businesses with the data they need for efficient energy management.
- Bluewater is a London-based growth investor and specialises in global energy.
- The partnership is a result of a successful carve-out from international company Schneider Electric providing energy and automation digital solutions for efficiency and sustainability.
- Steve Brown, Managing Director of IMServ: “Bluewater is the perfect partner as we help our clients manage the energy transition. If the UK is to meet its emission reduction targets, our smart meters and data collection technology will have a huge role to play. I’m delighted Bluewater has partnered with us and want to back us on this journey.”
LONDON, 14.09.2021, 0800 BST – IMServ, a UK pioneer in smart metering technology and data for the industrial, commercial, and domestic electricity sectors, has partnered with energy transition leader private equity firm Bluewater through a successful acquisition from international company Schneider Electric providing energy and automation digital solutions for efficiency and sustainability. The value of the transaction is undisclosed.
IMServ is a leading provider of electricity metering services (both installation and management of smart and advanced meters), data services (smart and advanced meters data analysis and management) and visualisation services. At the business’ core is a range of specialist electricity metering technologies, along with highly accurate energy data collection services. This is presented to suppliers and end-users in a seamless, intuitive online data management analysis and reporting platform.
IMServ is now one of the UK’s largest independent energy data management providers, and is enabling the decentralisation of power generation and digitalisation of the electricity market.
Its technology today is managing more than 25% of all the electricity that goes through the National Grid. The company has gone from strength to strength as smart meters have become a fundamental platform to deliver data that helps reduce carbon emissions.
IMServ will continue to be led by Managing Director Steve Brown, allowing the company to transition seamlessly and to continue offering best-in-class service to customers (including energy suppliers and end-users), employees, and other stakeholders.
Steve and the IMServ leadership team were attracted to Bluewater’s deep sector knowledge, supportive financial and business mindset, and the private equity firm’s drive to embrace the energy transition. Bluewater’s tried and tested approach to enabling rapid growth is a perfect fit with IMServ’s own ambitious growth strategy, which has responded to government-mandated demand for smart metering and more efficient management of energy use.
The IMServ strategy sees significant growth opportunities in several areas in the UK and internationally: the expanding data settlement market to support the needs of the flexible energy transition; organic growth through increased uptake of smart meters in the commercial and domestic electricity markets; and potential mergers and acquisitions nationally and overseas, with announcements of this kind expected within the next six months.
Steve Brown, Managing Director of IMServ, said: “Bluewater is the perfect partner for IMServ. Their energy transition expertise and financial strength will allow us to take advantage of the huge growth potential arising from energy transition. In addition, with capital to deploy, we are now looking at several acquisition options to drive our expansion in the UK and other European markets.”
Thomas Sikorski, Co-Founder of Bluewater, said: “We are delighted to have acquired what is already a market-leading company in IMServ. The company has been at the cutting edge of metering technology for twenty years and the team members are genuine pioneers in the sector.”
“Steve and his skilled management team are hungry for growth; they take a hands-on approach in the business and are supported by an experienced and knowledgeable 500-strong workforce. We’re really looking forward to working closely with IMServ and enabling its next stage of growth.”
“Our portfolio continues to seek out and invest in a range of companies that have genuinely important roles to play in the transition, and IMServ is a perfect example of that.”