Smart meter financing company Calvin Capital has agreed to buy Lowri Beck, which provides meter reading and data collection services.

Calvin Capital finances smart meter installations on behalf of energy suppliers as part of the rollout of the technology and the development of a digital energy infrastructure.

The company owns more than 7.3 million installed meter assets.

Lowri Beck currently installs and exchanges more than 300,000 domestic meters a year and collects data from an additional five million meters – it will continue to operate independently, serving both small and large suppliers.

Calvin Capital says the agreement will enable the creation of an end-to-end market offering, comprising the installation, servicing, managing and funding of domestic metering assets.