Smart Metering Systems backed a 955p-per-share, all-cash offer from legendary US buyout firm KKR, priced at a premium of around 40% to yesterday’s close. If debt is included, the takeover is worth £1.4 billion.
SMS has been listed on London’s Alternative Investment Market since 2011. AIM is best known for floating smaller companies, but SMS has grown into one of the UK’s leading green firms since its floatation. Based in Glasgow, it offers a range of carbon-reduction technology, from smart meters to batteries and electric vehicle charging points. It was set up in 1995.
KKR has a long history of dealmaking and is best known for its leveraged buyout of RJR Nabisco in the late 1980s, then the largest ever deal of its kind and made famous in the book Barbarians at the Gate.
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Denne historien er fra December 07, 2023-utgaven av Evening Standard.
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