Plenitude acquires 100% of Acea Energia and 50% of Umbria Energy for €500M

Plenitude completed the acquisition of 100% of Acea Energia S.p.A. and 50% of Umbria Energy S.p.A. from ACEA for approximately €500 million, gaining around 1.2 million customers. The transaction excluded vulnerable electricity customers, which remain under ACEA's management. The enterprise value was set at €448 million as of the locked box date of December 31, 2024, with an additional €82 million dividend paid to ACEA. An earn-out of up to €100 million is tied to operational performance by June 30, 2027. ACEA, a 116-year-old Italian utility group, specializes in water, energy, and environmental services, operating as Italy's leading water operator and a major European player.

Counterparts (4)

Buyer

Plenitude

company · 1 deals

Plenitude, an Eni company, provides integrated energy solutions to millions of residential and business customers across Italy and Europe, encompassing renewable energy generation, electricity and gas supply, and electric vehicle charging infrastructure. The company also develops solar PV systems and offers energy efficiency services.

parent_company

ACEA

company

Rome-based Italian utility company specializing in integrated water services, electricity and gas distribution, environmental services, and sustainable energy production. Operates across Italy with growing international presence in water infrastructure.

Seller

Acea Energia S.p.A

company

Rome-based Italian utility company operating across water, electricity, gas, and environmental services with a focus on sustainable infrastructure. Manages integrated water services, electricity distribution, waste management, and energy production including hydroelectric, thermoelectric, and photovoltaic plants.

Umbria Energy S.p.A

company