Herbert Smith Freehills Kramer advises DigitalBridge on its acquisition of PLUS ES

Herbert Smith Freehills Kramer (HSF Kramer) is pleased to be advising leading global alternative asset manager, DigitalBridge, on the acquisition of Ausgrid’s PLUS ES contestable smart meters business by a DigitalBridge-managed investment vehicle.

PLUS ES is one of Australia’s largest smart metering businesses, with approximately 2 million smart meters installed.

DigitalBridge Group, Inc. is a leading global alternative asset manager with assets under management of US$121 billion¹. PLUS ES represents an attractive growth platform for DigitalBridge at the intersection of digital infrastructure and power. 

This highly complex transaction involves funds managed by DigitalBridge acquiring PLUS ES’ contestable smart meters business from Ausgrid via a corporate carve-out, with PLUS ES’ regulated meters, infrastructure services and battery energy storage system operations being carved-out from PLUS ES and retained by Ausgrid.

HSF Kramer is advising DigitalBridge on all aspects of the transaction, drawing on the firm’s expertise across M&A, leverage finance, energy regulation, transitional services arrangements and technology. 

The HSF Kramer team was led by partner Adam Charles and included partners Kwok Tang, Jon Evans, Skye Kirby and Patrick Gay, special counsel Rommo Pandit, senior associates Sarah Ward, Taseen Rafi, Eric Kong, Eloise L’Estrange, Rachel Holland, Jarrod Gook, Sita McTavish and Emily Whitaker, and solicitors James Webb, Elle Henriksen, Sarah Leong, Elly Randall, Isabelle Vrisakis, Shruti Janakiraman and Marika Torihara. 

Adam Charles said, “It is a pleasure to work with our long-standing client, DigitalBridge, again. This transaction is a testament to DigitalBridge’s capacity to undertake the most complex transactions. We are grateful for the trust that they continue to place in us.”

This deal is the latest example of HSF Kramer’s market-leading work advising private capital sponsors. 

1. As of June 30, 2026