{"id":28254,"date":"2022-07-19T07:30:19","date_gmt":"2022-07-19T05:30:19","guid":{"rendered":"https:\/\/mutares.de\/?p=28254"},"modified":"2022-07-19T07:08:14","modified_gmt":"2022-07-19T05:08:14","slug":"eighth-acquisition-in-2022-mutares-acquires-sirti-energia-from-sirti-group-ultimately-controlled-by-pillarstone-and-kkr","status":"publish","type":"post","link":"https:\/\/mutares.com\/en\/eighth-acquisition-in-2022-mutares-acquires-sirti-energia-from-sirti-group-ultimately-controlled-by-pillarstone-and-kkr\/","title":{"rendered":"Eighth Acquisition in 2022: Mutares acquires Sirti Energia from Sirti Group, ultimately controlled by Pillarstone and KKR"},"content":{"rendered":"<ul>\n<li>Add-on acquisition to Mutares portfolio company EXI p.A.<\/li>\n<li>Strengthening the presence in the Energy Infrastructure market<\/li>\n<li>Significant cost synergies and improvement in projects execution expected with EXI<\/li>\n<li>Annual revenues of Sirti Energia S.p.A. of approx. EUR 60 million<\/li>\n<\/ul>\n<p><strong>Munich, 19 July 2022 \u2013 <\/strong>Mutares SE &amp; Co. KGaA (ISIN: DE000A2NB650) has signed an agreement to acquire Sirti Energia S.p.A. from Sirti S.p.A. ultimately controlled by Pillarstone and KKR as an add-on acquisition to EXI. The closing of the transaction and the consequent rebranding is expected for the third quarter of 2022 and is still subject to certain customary market conditions precedent and regulatory clearance.<\/p>\n<p>Sirti Energia is headquartered in Milan and is amongst the Italian leaders in the Construction and Maintenance (\u201cC&amp;M\u201d) services in the Energy Infrastructure market. The company has a well-known established brand and customer base and specializes in the design, construction and maintenance of underground and aerial power transmission and distribution grids. It furthermore operates in the Renewables and E-Mobility sector, employing approx. 400 people throughout Italy. The company generates around EUR 60 million in revenues.<\/p>\n<p>With this add-on acquisition to EXI, the companies will create an important player for installation and maintenance services in the energy and telco sector in Italy, serving a complementary customer base with a broad range of services and combining EXI Project Management Know-how with Sirti Energia skilled workforce. Revenues synergies are also expected with Balcke-D\u00fcrr Energy Solutions, an Engineering-Procurement-Construction (EPC) service provider for energy transmission and distribution, headquartered in Genoa and recently acquired from the Toshiba Group.<\/p>\n<p>\u201cThis marks the eighth acquisition in 2022 and our fourth transaction within the energy sector. Our expertise in this sector will help these newly acquired companies to benefit from each other and leverage synergies. I am confident that with the support of the Mutares team, Sirti Energia can fully exploit the growth potential triggered by the energy transition,\u201d comments Johannes Laumann, CIO of Mutares SE &amp; Co. KGaA.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Add-on acquisition to Mutares portfolio company EXI p.A. Strengthening the presence in the Energy Infrastructure market Significant cost synergies and improvement in projects execution expected with EXI Annual revenues of Sirti Energia S.p.A. of approx. EUR 60 million Munich, 19 July 2022 \u2013 Mutares SE &amp; Co. KGaA (ISIN: DE000A2NB650) has signed an agreement to [&hellip;]<\/p>\n","protected":false},"author":9,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[347],"tags":[],"class_list":["post-28254","post","type-post","status-publish","format-standard","hentry","category-press-releases"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.3 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Eighth Acquisition in 2022: Mutares acquires Sirti Energia from Sirti Group, ultimately controlled by Pillarstone and KKR - Mutares SE &amp; Co. KGaA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/mutares.com\/en\/eighth-acquisition-in-2022-mutares-acquires-sirti-energia-from-sirti-group-ultimately-controlled-by-pillarstone-and-kkr\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Eighth Acquisition in 2022: Mutares acquires Sirti Energia from Sirti Group, ultimately controlled by Pillarstone and KKR\" \/>\n<meta property=\"og:description\" content=\"Add-on acquisition to Mutares portfolio company EXI p.A. Strengthening the presence in the Energy Infrastructure market Significant cost synergies and improvement in projects execution expected with EXI Annual revenues of Sirti Energia S.p.A. of approx. EUR 60 million Munich, 19 July 2022 \u2013 Mutares SE &amp; Co. 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