LEONI sells Adaptricity to Secure Meters
Munich — LEONI AG, Nuremberg, a global provider of products and solutions for energy and data management in the automotive and other industries, has decided to sell its majority stake in Adaptricity, a cloud-based Swiss network analysis platform and premium provider of smart grid solutions, as part of its strategic focus on the wiring systems business. Proventis Partners advised LEONI on this transaction.
The buyer is the internationally operating Secure Meters Ltd. headquartered in Udaipur, Rajasthan, India. The acquirer is from Proventis Partners’ Mergers Alliance network and was advised by Singhi Advisors (India). For Secure Meters, Adaptricity’s modular and cloud-based solution platform for distribution grid operators represents an ideal strategic addition to its own product portfolio. Secure Meters plans to invest in further expansion of the technology and integrate Adaptricity’s products into its international sales activities. Adaptricity will operate as a wholly owned subsidiary of Secure Meters Group.
Gerd Schuster, Head of Strategy and M&A at LEONI AG: “Proventis supported us throughout the M&A process with its profound industry knowledge in the energy sector and its Mergers Alliance network.”
The role of Proventis Partners
Proventis Partners acted as exclusive M&A advisor to LEONI in the preparation and implementation of the transaction. In addition to the implementation of a structured sales process, the consulting services included the preparation of marketing and transaction documents, identification and approach of potential investors including management presentations as well as support in the due diligence and negotiation of the transaction. Proventis Partners worked with Singhi Advisors, its Mergers Alliance partner in India, who advised the buyer on this transaction. The transaction team of Proventis Partners: Pierre Schneider (Partner, Munich), Flo- rian Liepert (Director, Munich) and Petr Maxmilian Hajkr (Senior Associate, Munich).
About LEONI AG
LEONI AG, Nuremberg, is a global supplier of products and solutions for energy and data management in the automotive and other industries. LEONI’s largest customer base is the global automotive, commercial vehicle and supplier industry, for which the company develops and produces both standard and special cables as well as customer-specific wiring systems and related components. www.leoni.com
About Secure Meters Ltd.
Secure Meters Ltd. is a privately held Indian multinational company with operations in India, the United Kingdom, Australia, Sweden, Italy and the Middle East. Secure Meters is a solution provider in the field of revenue management, power quality and energy efficiency and is active with its product solutions in more than 50 countries. Secure Meters develops, manufactures and markets products for measuring and monitoring energy consumption and has installed over 50 million meters worldwide and is one of the leading suppliers of smart and prepaid meters for electricity and gas. www.securemeters.com
About Adaptricity AG
Since its founding in 2014 as a spin-off company of ETH Zurich, Adaptricity AG, based in Zurich, has established itself as a SmartGrid innovation driver in the German-speaking region. Adaptricity’s software tools enable the merging of traditional network planning with data-based algorithms. The object of the company is, among other things, the development, distribution and licensing of software products for the simulation, optimization, planning and monitoring of power distribution networks, as well as the provision of consulting services in the field of distribution network operators. Their innovative grid analytics tools combine traditional grid planning practices with data-driven algorithms to ensure that all metering data available on the power grid (e.g., smart meter data) is used optimally. www.adaptri- city.com
About Proventis Partners
Proventis Partners is a partner-led M&A advisory firm whose clients include a majority of mid-sized family businesses, corporate subsidiaries and private equity funds. With more than 30 M&A advisors, Proventis Partners is one of the largest independent M&A consultancies in the German-speaking region and looks back on 20 years of M&A experience and more than 300 completed transactions. The M&A consultants with offices in Düsseldorf, Hamburg, Munich and Zurich are active in the sectors Industrials & Chemicals, Business Services, Consumer & Retail, TMT, Healthcare and Energy & Sustainability. Exclusive membership in Mergers Alliance — an international partnership of leading M&A specialists — enables Proventis Partners to assist clients in 30 countries in key markets worldwide. The members of the Mergers Alliance, with its more than 200 M&A professionals, provide Proventis Partners and thus its clients with unique access to local markets in Europe, North America, Latin America, Asia and Africa. www.proventis.com