September 17, 2021

Willkie represented Bluewater in the transaction.

On September 15, Bluewater, a leading growth investor in the energy sector, announced its acquisition of IMServ Europe Limited, a UK pioneer in smart metering technology and data for the industrial, commercial, and domestic electricity sectors, from Schneider Electric.

IMServ is one of the UK’s leading data collection and energy metering service providers, delivering end-to-end data management solutions to the industrial, commercial and domestic electricity sectors. It manages more than 25% of the UK’s electricity consumption, accounting for £10 billion of electricity sales per annum. The company has gone from strength-to-strength as energy smart meters have become a fundamental platform to deliver data that helps reduce carbon emissions.

Bluewater’s investment will support IMServ’s accelerated growth strategy, in response to government-mandated demand for smart metering and more efficient management of energy use. IMServ expect to see significant growth opportunities throughout the UK and internationally: within the expanding data settlement market to support the needs of the flexible energy transition; through organic growth with the increased uptake of smart meters in the commercial and domestic electricity markets; and with potential mergers and acquisitions nationally and overseas. Managing Director, Steve Brown, will continue to lead the company to allow for a seamless transition and to ensure that IMServ can continue offering best-in-class service to its customers (including both energy suppliers and end-users), employees, and other stakeholders.

Bluewater is a London-based private equity firm focused on the global energy sector. It currently manages a portfolio of 22 companies based in Europe, Asia, Middle East and North & South America. The firm targets investments across the entire energy spectrum, while partnering with best-in-class management teams and utilizing a network of seasoned investment and operating professionals.

The Willkie team was led by partner Philip Coletto and included tax partner Jane Scobie and associates William Buchanan, Ashley Jamali, Nicola White, Ethan Douglas and Ben Pearlman.