Ancala Acquires Solandeo to Accelerate Germany’s Smart Meter Rollout

Published on July 3, 2024

Ancala, an independent infrastructure manager, has acquired Solandeo, a growing operator of smart meters in Germany. This acquisition provides Solandeo with the capital needed to meet the rising demand for smart meters, mandated by the German government for nationwide rollout by 2025, contributing to the country’s goal of climate neutrality by 2045. Financial details of the transaction were not disclosed.

Founded in 2014 and headquartered in Berlin, Solandeo offers comprehensive smart metering solutions. These services include the procurement, installation, operation, maintenance, and ownership of smart metering systems for both residential and commercial customers. Solandeo has a portfolio of installed smart meters and a secured order book for additional installations.

Solandeo provide a smart metering solution for energy producers and suppliers, utilizing proprietary IT and software systems. These systems offer customers the data needed to forecast spending and reduce energy use, along with remote control solutions that support the integration of sustainable energy into Germany’s grid. Solandeo’s services are typically provided under long-term guaranteed contracts, working with major energy providers like 1KOMMA5°, Sonnen, and Enpal.

Ancala’s investment and active asset management approach aim to scale Solandeo to deliver top-tier metering assets and services to the broader German energy market. This includes accelerating the rollout of Solandeo’s substantial order book and expanding customer relationships. Ancala has already facilitated an expanded partnership between Solandeo and its largest customer, 1KOMMA5°, which has signed an increased metering contract as part of the transaction.

Tim Power, Partner at Ancala, emphasized Solandeo’s unique platform and its role in the German mandatory metering rollout, highlighting the potential for growth and the strong existing customer relationships. Ancala has invested nearly €1bn in critical infrastructure within energy transition and renewables, typically providing over 40% of the initial investment capital in follow-on funding to support organic growth and acquisitions.

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