Energy, Power & Resources

Smart Metering Systems Plc



Transaction type Equity Capital Markets & Corporate Broking

Sector Energy, Power & Resources

Smart Metering Systems plc (“SMS”) is an energy infrastructure company which owns, installs, and manages carbon reduction assets, including smart meters, battery energy storage systems, and EV charge points. ​

The Company was founded in 1995 and was admitted to trading on AIM in 2011 at a value of £60 million, with Cavendish acting as nominated adviser and sole broker. Since IPO, Cavendish raised £450 million for the Company and its founders.​

Throughout its journey on the public markets, Cavendish advised SMS on several asset acquisitions and disposals to support the Company’s growth and return investment to shareholders through the payment of more than £145m in dividends.​

Cavendish acted as nominated adviser and joint broker to SMS during the £1.3 billion takeover by US private equity firm, Kohlberg Kravis Roberts, with SMS shareholders receiving 955p for each share, 15.9x  the share price at IPO.​

Cavendish’s specialist Sustainable Energy, Power & Resources team has been a firm supporter of SMS from its first day of trading on AIM through to its successful sale and delisting.