Pioneer Point Partners has acquired Italian energy efficiency service provider Simet Soluzioni Energetiche, marking the eighth investment from its maiden institutional fund.
The Pioneer Infrastructure Partners fund has invested an undisclosed amount to acquire Simet from the Enercom Group.
Simet, which has 50 employees, manages public lighting infrastructure in the North of Italy. The company ensures that more than 3,000km of roads are lit under long term contracts with approximately 100 municipalities.
Pioneer said the fund aims to support Simet’s growth in ”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.
The company added that this investment ”is strongly aligned to the fund’s sustainable objectives and classification as Article 9 under SFDR, supporting climate change mitigation through reducing energy consumption and energy pollution”.
Pioneer Infrastructure Partners, which held a €575m final close in February 2022, ahead of its €500m target, has completed eight investments. The capital has been deployed in line with its investment strategy and Pioneer’s track record in the lower mid-market, value-add sustainable infrastructure sector across Western Europe, the company added.
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