AURELIUS Acquires Landis+Gyr EMEA Metering Business for $215M

AURELIUS Private Equity Mid-Market Buyout has entered into a definitive agreement to acquire Landis+Gyr’s EMEA metering business for an enterprise value of $215 million. The transaction, announced on March 31, 2026, covers the full portfolio of metering solutions for residential electricity, industrial and commercial electricity (ICG), gas, and thermal applications, along with integrated software and services operations across Europe, the Middle East, and Africa.

Landis+Gyr EMEA operates five production sites and employs approximately 2,700 people. The business generated net revenues exceeding $600 million in the fiscal year 2024. The acquisition is expected to close in the second quarter of 2026, subject to customary regulatory approvals and closing conditions.

Landis+Gyr EMEA is a well-established provider of metering solutions with a heritage rooted in Swiss precision engineering. The company serves residential and commercial customers with a comprehensive range of electricity, gas, and thermal metering products, complemented by integrated software and service offerings.

AURELIUS, a global private equity investor with over 400 professionals across nine offices in Europe and North America, specializes in complex investments such as carve-outs and platform build-ups. The firm plans to leverage its in-house operations advisory team, AURELIUS WaterRise, to support the standalone growth and operational optimization of the acquired business.

Fabian Steger, Managing Director of AURELIUS Funds IV and V, commented, “I am pleased to see the momentum AURELIUS has built in a challenging M&A market, identifying many attractive carve-out opportunities and converting them into transactions. The acquisition of Landis+Gyr’s EMEA business is another example of this.” Franz Woelfler, Partner at AURELIUS Investment Advisory, added, “Landis+Gyr’s EMEA business benefits from favourable fundamental trends in the metering market. AURELIUS is excited to partner with management and the business’ highly skilled employees to bring the enterprise to its full potential, but also to contribute to a more resource-efficient world through its market-leading technology.”

The deal is strategically significant as it strengthens AURELIUS’s position in the EMEA metering market by acquiring a leading provider with a century-long heritage. The acquisition offers opportunities for revenue growth through cross-selling integrated metering and software solutions, expansion into underpenetrated regional markets, and leveraging Landis+Gyr’s strong brand reputation to accelerate customer acquisition.

Operationally, AURELIUS aims to realize cost efficiencies by streamlining production across the five EMEA sites, consolidating shared services, and optimizing the supply chain. The WaterRise advisory team will focus on product portfolio optimization and enhancing profitability as the business transitions to a standalone entity.

The metering industry is experiencing consolidation and increased demand for integrated hardware and software solutions driven by energy efficiency and digitalization trends. This acquisition positions AURELIUS to capitalize on these market dynamics while intensifying competition among regional players.

Financial details include a $215 million enterprise value for the full acquisition of Landis+Gyr EMEA. The transaction was advised by Alantra on M&A, Baker McKenzie on legal matters, EY on financial and tax issues, Roland Berger commercially, Aon on insurance, and Haver & Mailänder on antitrust.

Looking ahead, AURELIUS will focus on managing the carve-out complexities from the publicly listed parent company, retaining key talent, and aligning legacy systems with the standalone operational model. The firm’s operational expertise and advisory support are expected to drive revenue growth and margin improvement.

The acquisition underscores AURELIUS’s commitment to operational excellence and strategic growth in private equity investments, particularly in sectors with strong technological and sustainability drivers.