PATRIZIA has signed a deal to acquire an 85% stake in Atlantico, Italy’s third-largest independent smart streetlighting operator by number of light points (LPs) managed.
PATRIZIA, a leading partner for global real assets, has signed a deal to acquire an 85% stake in Atlantico, Italy’s third-largest independent smart streetlighting operator by number of light points (LPs) managed. Pending regulatory approval, the transaction is the third Italian smart streetlighting acquisition by PATRIZIA’s Smart City Infrastructure Fund, its single LP strategy with Dutch pension giant APG, and completes its EUR 750 million smart cities investment programme across the US and Europe.
The acquisition further consolidates PATRIZIA Infrastructure’s market share in the Italian smart streetlighting sector, with a combined commitment of EUR 260 million that also includes investments in Ottima and Selettra in 2022. The portfolio today is the second-largest independent streetlighting operator in Italy by number of light points managed across 200 municipalities, with the potential to manage up to one million LPs within the next five years and become a top national player.
The larger platform delivers greater geographic diversity of LPs, with Atlantico providing strong exposure in the north of Italy. The platform’s growth will be further accelerated by bolt-on acquisitions and the deployment of additional smart city services in municipalities, such as smart building management, fleet electrification, 5G, smart meters and smart traffic services.
You can now read the full press release at the link below
