Smart metering commercial and regulatory vendor due diligence

The Cornwall Insight team were engaged by Foresight Metering, part of the wider Foresight Group, to support on the vendor due diligence activities as the company was offered for sale to the market. Foresight Metering is a meter asset provider with several hundreds of thousands of smart meters installed in the GB electricity and gas market with clients in both the household and business sectors. It has plans to significantly increase its meter bases over the coming five years.

As part of the project, Cornwall Insight led on the commercial and regulatory elements of the due diligence and worked in partnership with consultancy TNEI, who provided the technical aspects of the project.

The Cornwall Insight team of experts developed key inputs to the Information Memorandum and led on the development of the commercial and regulatory elements of the overall vendor due diligence report. This included a range of market intelligence, market overview, a review of the company’s market position and its business plan, and analysis of opportunities and risks in the market. The team also supported the client at meetings with potential investors to provide expert input on aspects such as market dynamics and regulatory change. This process allowed for a deeper dive into key elements of the vendor due diligence packs and for question and answer sessions.

It was a successful process for the client, and the project resulted in the metering business being acquired by Arcus Infrastructure in October 2019.