CVC DIF has announced its acquisition of CARMA Corp., a leading Canadian submetering provider, to enhance service offerings and support its expansion in North America.

Target Company Overview

CARMA Corp. (“CARMA”) is a prominent Canadian submetering and essential building services platform, founded in 1977 and headquartered in Lindsay, Ontario. As one of Canada's leading submetering providers, CARMA meters over 135,000 units across more than 1,000 multi-residential and commercial buildings located in Ontario, Alberta, British Columbia, and Nova Scotia. The company's expansive submetering portfolio is supported by long-term contracts designed with inflation protection, which enhances stability and predictability for its clients.

In addition to its substantial market footprint, CARMA plays a crucial role in promoting sustainability by allowing property owners and tenants to effectively monitor and manage their energy consumption. This service not only assists in reducing overall energy usage but also lowers utility costs for residents, aligning with the increasing demand for energy-efficient solutions in urban markets.

Industry Overview in Canada

The submetering industry in Canada is experiencing significant growth, driven by rising energy costs and heightened awareness of sustainability practices among consumers. As