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AIM-listed energy firm Sureserve in crosshairs

Shares in smart meter group Sureserve are skyrocketing as it becomes the latest London-listed company to be targeted by private equity

By Daily Mail City & Finance Reporter

published: | Updated:

Shares in smart meter group Sureserve soared as it became the latest London-listed company to be targeted by private equity.

The AIM-listed company, which provides energy services to social housing including the installation of smart meters, backed a 125p per share offer from French buyout group Cap10, which valued it at £214m.

Buyout: Sureserve provides energy services to social housing, including the installation of smart meters

Sureserve shares rose 37.2 percent, or 33.5 pence, to 123.5 pence.

But Peel Hunt analyst Andrew Nussey said the offer undervalued the company and a rival approach could not be ruled out.

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