Following the acquisition, Simet Soluzioni Energetiche now serves more than 100 municipalities with over 140,000 light points.
Simet Soluzioni Energetiche, a leading Italian energy efficiency service provider to the public administration sector in Northern Italy, has completed the acquisition of the public lighting business unit of Global Power Service S.p.A., which serves 11 municipalities via long term contracts with an average residual contracts length of more than 10 years.
The acquisition adds an additional 10,000 light points located in Veneto, Lombardy and Piedmont to Simet’s total portfolio, which now exceeds 140,000 light points. Simet now serves more than 100 municipalities and provides LED lighting solutions to over 700,000 inhabitants.
This acquisition represents an important milestone in the Company’s growth plan alongside its new shareholder Pioneer Point Partners, a leading sustainable infrastructure investment firm focused on Western Europe, which acquired the company in April 2024. Pioneer strategic objective is to help Simet expand into other fast-growing sectors of the energy efficiency market, including management of heating infrastructure and the provision of renewable energy to public entities and local communities, as well as innovative smart city services.
Gianni & Origoni acted as legal advisor to Pioneer and Simet and Pirola Pennuto Zei & Associati acted as legal advisor to Global Power Service.