Comptage Immobilier Services (CIS)

CIS is a leading French provider of utility allocation services to collective housing and private flats.

It installs and maintains meters, records individual tenants’ consumption and processes data in order to allow building managers to generate individual billings.

The business was acquired from Actaris Metering, a manufacturer of meters, which itself was bought-out of Schlumberger in 2001.

VALUE CREATION

From 2002 to 2004, CIS has over-performed on plan. At the end of 2003, following an unsolicited approach by a trade buyer, the management and Equistone decided to launch an exit process.

THE EXIT

After a strong competition, CIS was sold through a secondary MBO to Astorg Partners.