London, United Kingdom 19 January 2023 – Arcus Infrastructure Partners LLP (“Arcus”) announces that Arcus European Infrastructure Fund 3 SCSp (“AEIF3” or the “Fund”) has acquired Officium Holding GmbH (“Officium”), a German submetering provider. Officium was acquired from EMERAM, a Munich-based Growth Buyout Investor for midcap companies in the German speaking regions.
Officium provides long-term rental of submetering equipment and related services for the measurement of heat and water consumption within multi-dwelling properties in Germany.
In line with Arcus’ strategy to ensure that all investments have a strong ESG impact, the submeters owned and leased by Officium enable individual consumption-based billing, which allows people to better monitor and control their own domestic energy consumption. It is also supportive of the transition towards increased energy efficiency.
Officium owns a portfolio of over one million submetering devices which are leased on a long-term basis to building owners and property managers to service individual dwellings. The company operates within a resilient sector which benefits from non-cyclical demand and inflation linkage.
Stefano Brugnolo, Arcus Partner, who led the transaction, said: “Having identified the European submetering sector as a key area of focus for Arcus some years ago, we are delighted to be announcing the acquisition of Officium which stood out as a particularly attractive mid-market and independent player in the German market. We look forward to supporting the continued growth of the business alongside Stephan Kiermeyer, Officium’s CEO and founder, and bringing to bear our experience in metering from Horizon Energy Infrastructure and Smart Meter Assets to build on Officium’s well established market position.”
Commenting on the acquisition, Ian Harding, Managing Partner at Arcus said: “We are really pleased to announce the acquisition of Officium by our fund, AEIF3. Arcus has a wealth of experience in the metering and submetering sector and understands its vital role in the energy transition. We look forward to working with Officium and supporting its further development and growth.”
Stephan Kiermeyer, CEO of Officium, commented: “We started to consolidate the fragmented German metering market two years ago and, in the process, have been able to aggregate 10 companies around the Officium platform. We are now very happy to have Arcus as a new, long-term partner and majority shareholder. With Arcus, we will be even more active in the German market, continuing to strengthen and expand the footprint of our portfolio companies and attracting more regional and national players to our platform. I am very proud of what we have achieved with our partners and employees and look forward to cooperating with Arcus to further strengthen Officium.”
Arcus was advised by Chatham Partners (legal), Roland Berger (commercial and regulatory), DNV (technical), Alvarez & Marsal (operational, IT, financial and tax) and AON (insurance).
The Seller, EMERAM, was advised by Noerr (legal) and ING-Bank (M&A).
Arcus Media Contacts:
Harriet Bellanca
E: harriet.bellanca@arcusip.com
T: +44 7442 154256
About Arcus
Arcus Infrastructure Partners LLP is an independent fund manager focused solely on long-term investments in European infrastructure. Arcus invests on behalf of institutional investors through discretionary funds and special co-investment vehicles and, through its subsidiaries, currently manages investments with an aggregate enterprise value in excess of EUR 19bn (as of 30 September 2022). Arcus targets mid-market, value-add infrastructure investments, with a particular focus on businesses in the digital, transport, logistics & industrials, and energy sectors.
About Officium
Officium GmbH is one of the leading independent submetering and energy services providers for consumption-based metering and billing of water and heat for the housing industry. The company was founded as a platform investment by funds advised by EMERAM in 2020. As a parent company, Officium manages numerous regional providers and is primarily present in Berlin, Brandenburg, Lower Saxony, North Rhine-Westphalia (for example Düsseldorf and Duisburg), Mecklenburg-Western Pomerania, Saxony-Anhalt (Dessau-Roßlau), Saxony (Dresden and Chemnitz), Thuringia and Bavaria (Lower and Upper Franconia). Customers are primarily small and medium-sized property management companies and private landlords. In total, Officium manages more than one million measuring devices.
