M&A Deal Summary

QIC Acquires Vector Metering

On December 21, 2022, sovereign wealth fund QIC acquired electrical equipment company Vector Metering from Vector

Acquisition Highlights
  • This is QIC’s 1st transaction in the Electrical Equipment sector.
  • This is QIC’s 2nd transaction in New Zealand.

M&A Deal Summary
Date 2022-12-21
Target Vector Metering
Sector Electrical Equipment
Buyer(s) QIC
Sellers(s) Vector
Deal Type Divestiture

Target

Vector Metering

Wellington, New Zealand
Vector Metering provides innovative smart meter data services for more than two million electricity and gas meters. Vector Metering is based in Wellington, New Zealand.

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Buyer(S) 1

Buyer

QIC

Investor Investor Investor

Category Sovereign Wealth Fund
Founded 1991
Size Large
Type Sector Agnostic
DESCRIPTION

Queensland Investment Corp (QIC) is a government owned and funded investment group serving the Australian state of Queensland. QIC has a range of investment strategies including private equity, infrastructure, real estate, hedge funds, and equities. QIC was established in 1991 and is based in Brisbane.

DEAL STATS #
Overall 8 of 8
Sector (Electrical Equipment) 1 of 1
Type (Divestiture) 2 of 2
Country (New Zealand) 2 of 2
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-09 Evolution Healthcare

Wellington, New Zealand

Evolution Healthcare is a provider of private hospitals and rehabilitation services in New Zealand and Australia. The company focus on improving the management of private healthcare facilities by attracting and training the best talent, partnering with medical professionals, and healthcare providers to offer patients excellence in healthcare. Evolution Healthcare was founded in 2011 and is based in Wellington, New Zealand.

Buy -

Seller(S) 1

SELLER

Vector

Auckland, New Zealand
Category Company
Founded 1999
Sector Utilities
Employees850
Revenue 1.1B NZD (2023)
DESCRIPTION

Vector operates through two segments, regulated networks and gas trading. It distributes electricity to residential and commercial customers through its network consisting of approximately 19,000 kilometers of electricity lines bulk LPG to commercial customers and bottled LPG to commercial and residential customers, as well as processes, trades, and sells natural gas. Vector was founded in 1999 and is based in Auckland, New Zealand.

DEAL STATS #
Overall 2 of 2
Sector (Electrical Equipment) 1 of 1
Type (Divestiture) 2 of 2
Country (New Zealand) 1 of 1
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-05-16 Wellington Electricity Distribution Network Holdings

Bahamas

The Wellington network, the fourth largest electricity distribution network in New Zealand, has a system length of over 4,592 km and is serving the Wellington, Porirua and Hutt Valley regions.

Sell NZ$785M
Mergr

Product

Company

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