Intellihub buys water-meter firm Taggle for $34.4M in metering push
What's the deal? IntellihubDealroom has a profile for this one. Try Dealroom →, the Australian smart-metering company backed by Pacific Equity PartnersDealroom has a profile for this one. Try Dealroom → and BrookfieldDealroom has a profile for this one. Try Dealroom →, has acquired Sydney-based TaggleDealroom has a profile for this one. Try Dealroom → for US$32.4M. The deal moves Intellihub beyond its core electricity-metering business into water.
The companies: Intellihub manages more than 3.5 million connected devices across Australia and New Zealand. Founded in 2007, Taggle brings more than 400,000 connected water meters and sensors.
Why now? Australia is one of the world's fastest-growing markets for smart water technology, as networks grapple with population growth, climate change, ageing infrastructure, and rising operating costs. Digital rollouts are gathering pace — South East WaterDealroom has a profile for this one. Try Dealroom → reported 300,000 digital meters installed in October — while Intellihub recently won an Icon WaterDealroom has a profile for this one. Try Dealroom → contract for new multi-unit developments in the ACT.
What's the endgame? Smart water meters offer faster leak detection, more accurate billing, and clearer household usage data. The acquisition lets Intellihub extend its metering and data-service capabilities into an adjacent market.
Intellihub has the cash to expand. It secured $3 billion in debt refinancing last year, leaving $600 million for new products and growth.
The backers: Pacific Equity Partners acquired Intellihub in 2018 as a joint venture with smart-metering firm Landis+Gyr. In 2021, Brookfield beat out BlackRock, Morrison & Co, and Stonepeak to take a 50% stake, and the company has steadily expanded since.
The signal: For PEP and Brookfield, Taggle is a bet on growing utility demand for remote usage data and earlier leak detection. But water adoption remains program-by-program rather than a uniform national rollout, so the foothold's value will hinge on whether it converts into larger utility contracts.
Read more: afr.com
Image credit: USDAgov
