KKR completed acquisition of SMS

Kohlberg Kravis Roberts (KKR) has officially announced that it acquired Glasgow-based Smart Metering Systems (SMS) for GBP1.3 billion (US$1.41 billion).

The deal was deemed unconditional by SMS shareholders upon obtaining 62.78% of their votes. The acquisition was first disclosed in December by a newly established entity that is fully controlled by funds managed by KKR and its affiliates. Each share of SMS will now be worth 955p to shareholders.

Smart Metering Systems (SMS) is a fully integrated energy infrastructure company that owns, installs and manages carbon reduction (CaRe) assets, including smart meters, battery energy storage systems (BESS), and EV chargepoints.