Total Capital acquires Meter Provida

Total Capital has taken a majority stake in the business alongside the company's management and the rollover stake held by Meter Provida's parent company and vendor, Fusion Group.

Meter Provida's existing managing director, Tim Houtby, invested in the business alongside incoming finance director Stephen Burr.

Debt
Total Capital provided a debt facility to Meter Provida alongside its equity injection.

Company
Founded in 2000, Meter Provida is headquartered in Chesterfield, Derbyshire. The company generated turnover of £25m in the year ending March 2013, as well as an EBITDA of £4m.

Meter Provida acted as Fusion Group's supply-chain specialist in gas meters and meter kits. The company provides kitting, stock-holding and logistics services to its customers, and its software system Slipstream provides track-and-trace services.

The business's customer base comprises meter asset managers, gas suppliers, network operators and utility infrastructure providers.

People
Total Capital founding partner Natalie Eastham and partner Paul Brown worked on the deal for the firm.

Advisers
Equity – Ward Hadaway (Legal); KPMG (Financial due diligence); PMSI (Commercial due diligence).

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