Private equity firm Aurelius has closed on the purchase of the European, Middle East and Africa (EMEA) metering unit from Swiss‑listed Landis+Gyr for an enterprise value of $215 million. The divested operation covers residential electricity, industrial‑commercial‑government (ICG) electricity, gas and thermal meters, plus associated software and services. The deal transfers a portfolio that generated more than $600 million in net revenue during FY24.

Landis+Gyr, headquartered in Cham, Switzerland, has been trimming non‑core assets to sharpen its focus on high‑growth smart‑grid solutions. Offloading the EMEA metering business frees capital and reduces exposure to commodity‑driven margins. For Aurelius, the acquisition bolsters its infrastructure platform, giving it a foothold in a fragmented market where utility digitisation is accelerating. The move aligns with a broader trend of European equipment makers consolidating to achieve scale.

Investors will likely view the $215 million price tag as a modest premium for a business that delivers steady cash flow and cross‑sell opportunities for software upgrades. The transaction also signals continued private‑equity interest in energy‑technology assets as utilities modernise. Aurelius now controls a regional meter supplier with established customer relationships across more than 30 countries.