Hg has successfully sold QUNDIS, a European sub-metering solutions provider, to KALORIMETA while retaining a minority stake, marking the twelfth exit from its Hg6 fund.

Target Information

Hg has successfully executed the sale of QUNDIS, a leading provider of sub-metering solutions in Europe, to German investment group KALORIMETA (KALO), a prominent service provider in climate-smart solutions within the building sector. Hg intends to retain a minority stake in the newly formed group. QUNDIS was established in 2008 through the merger of QVEDIS, which was previously part of Siemens, and KUNDO SystemTechnik. Currently, the company is headquartered in Germany and employs over 250 individuals.

QUNDIS specializes in a wide array of sub-metering and communication devices that accurately measure, collect, and transmit data on heat and water consumption at the household level. Their solutions cater to both independent sub-metering suppliers and the building technology markets in Europe. Sold across 30 countries, QUNDIS’ primary markets include Germany and Italy.

Industry Overview in Germany

The sub-metering industry in Germany has experienced significant transformation in recent years, driven by regulatory changes and increasing consumer demand for accurate consumption data. The European Energy Directive mandates the use of consump