DigitalBridge, a global alternative asset manager dedicated to investing in digital infrastructure, has announced the acquisition of PLUS ES, one of Australia’s largest smart meter providers. The acquisition was made by a separate DigitalBridge-managed investment entity within the Ausgrid Group. PLUS ES provides infrastructure and services that connect retailers, utilities and network operators with the data needed to manage a complex energy ecosystem.

“PLUS ES sits at a compelling intersection of digital infrastructure and the energy transition,” said Justin Chang, head of Asia Pacific and senior managing director at DigitalBridge. “With approximately two million meters already deployed, the business has meaningful scale and an important role in Australia’s energy ecosystem. Australia’s smart-meter rollout also provides a significant runway for growth, supported by long-term customer relationships and contracted deployment visibility.”

Chang went on to say that in tandem with the PLUS ES team, DigitalBridge aims to support the continued growth of the business as it continues to build digital infrastructure to support Australia’s evolving energy needs.

The transaction is subject to customary closing conditions, including regulatory approvals.

On its website, PLUS ES said the acquisition “represents an exciting new chapter for the PLUS ES digital metering business which will create new opportunities for investment, innovation and growth across the digital electricity and water metering operations.”   

PLUS ES delivers integrated metering and data services. Its advanced metering and data platforms were built to empower customers to manage energy consumption, optimize operations and support sustainability goals.

PLUS ES was established in 2017, following the acquisition of AGL’s ActiveStream and has grown to include 2 million installed digital meters today with a strong pipeline of still to be installed meters. The PLUS ES contestable infrastructure business is not part of the sale and will be transferred to other Ausgrid Group partnerships.  

DigitalBridge has spent more than 30 years investing in and operating businesses across the digital ecosystem, including cell towers, data centers, fiber, small cells, and edge infrastructure, DigitalBridge manages infrastructure assets on behalf of its limited partners and shareholders. The firm is headquartered in Boca Raton, Florida, with offices across North America, Europe, the Middle East, and Asia.