125-year-old Switzerland-based Landis+Gyr has acquired 100% of Izmir-based Luna

Landis+Gyr, the global provider of integrated energy management solutions, has acquired 100% of the shares of Luna Elektrik Elektronik A.Ş. (Luna), the leading Turkish smart electricity and water meter manufacturer.

Established in 1991, Luna is a supplier of smart electricity and water meters, providing high-quality advanced measurement technology. Luna has a production capacity of more than 400,000 smart meters per month, with 1,000 employees and more than 100 engineers in its R&D center in İzmir, offering nearly 35 million electricity meters to the Turkish market.

Landis+Gyr is a leading global provider of integrated energy management solutions for the utility sector. Offering one of the broadest portfolios, it delivers innovative and flexible solutions to help utility companies solve their complex challenges in smart metering, grid edge intelligence and smart infrastructure. With sales of US$1.4 billion in FY 2020, Landis+Gyr employs around 5,000 people in over 30 countries across five continents, with the sole mission of helping the world manage energy better.

Oaklins’ team in Turkey advised the sole shareholder and management on the sale of Luna Elektrik Elektronik A.Ş. The team built a structured process, developing significant interest internationally from the core strategic buyers. Competitive offers from local private equity firms ran in parallel as well. Oaklins’ team in Switzerland reached out to the ultimate buyer, Landis+Gyr.