Cornwall Insight, an energy consultancy, research and analytics company, is pleased to announce its role in providing energy sector commercial and regulation expertise to support the successful acquisition of Maple TopCo Limited (“MapleCo”) by funds managed by Equitix Investment Management Limited (“Equitix”). The signing of the sale agreement for 100% equity interest in MapleCo to funds managed by Equitix was announced on 23 September 2020.
Equitix is a leading investor, developer and long-term fund manager of core infrastructure and energy-efficiency assets in the UK and Europe. The investment firm manages over £6bn on behalf of long-term investors, including a large proportion of UK pension funds.
MapleCo is a leading Meter Asset Provider in the UK and focuses on the government-mandated roll-out of household smart meters. It was established in 2017 by OMERS, Ontario Teachers’ Pension Plan and SSE, and as of March 2020, it had an asset base of over 1.6m installed meters.
Cornwall Insight provided comprehensive buy-side commercial and regulatory due diligence. This was delivered with close engagement with the Equitix team and utilised our pre-eminent market understanding to deliver the support successfully.
Adam Boorman, Senior Consultant at Cornwall Insight, said:
“We are delighted to have supported Equitix in this successful acquisition of MapleCo, a major player in the GB metering market. Our involvement in this project allowed us to utilise our market-leading understanding of the gas and electricity metering markets, as well as our retail market intelligence and regulatory knowledge.
“It highlights our capability to successfully support key infrastructure investments that will play a significant role in the delivery of the smart meter roll-out and the move to a smart, flexible energy system capable of meeting the net zero targets.”