Private Equity Firm Blue Water Energy Buys Smart Meter Provider

Private equity firm Blue Water Energy LLP has bought IMServ Europe Ltd., a provider of smart meters that allow consumers to monitor their electricity use in real time.

The buyout firm purchased IMServ for an undisclosed sum from Schneider Electric SE, according to the metering company. IMServ’s technology manages more than 25% of all the electricity that goes through the National Grid power system in the U.K., it said.

IMServ has annual revenues of 50 million pounds ($69.3 million) a year and is the country’s largest half-hourly data collector, Managing Director Steve Brown said in an interview. The company provides ...