Aclara acquires Philippines electric meter leader
August 15, 2017
Aclara, a Missouri-based supplier of smart infrastructure to electric, gas and water utilities, has acquired GE's majority equity position in General Electric Philippines Meter & Instrument, the market leader for electric meters in the Philippines. GEPMI is a joint venture between GE and Manila Electric (Meralco), the largest electric distribution company in the Philippines.
As a result of the acquisition, Aclara will own a majority equity position in GEPMI, which has offices in Taguig City, Metro Manila, and supplies electric offerings in other Asean member countries and Japan. Meralco, which will maintain its current equity position in GEPMI, serves over six million customers and covers 36 cities and 75 municipalities, including metropolitan Manila.
The acquisition of GEPMI is an important part of Aclara's global strategy because the Philippines, as well as other Asean and Apac countries, are key markets for Aclara's continued international expansion.
"Holding a majority equity position in this joint venture enhances our global market leadership, as it is the gateway to expanding our international footprint into the growing Asean and Apac markets," said Allan Connolly, president and CEO of Aclara. “This development further strengthens our ability to offer next generation smart meters through our broad meter portfolio. We look forward to bringing decades of technical expertise to a growing market that is beginning to embrace the benefits of smart meters and next generation smart infrastructure."
Aclara's expansion of its international business began with the 2015 acquisition of the electric meters business operating within GE Power's Grid Solutions subdivision as well as its 2016 acquisition of Tollgrade Communications' smart grid sensor products and grid monitoring platform. The company also has recently opened offices in Bilbao, Spain, and Cambridge, UK.
Aclara is an affiliate of Sun Capital Partners and supplies smart infrastructure services to more than 800 water, gas and electric utilities globally.