GETEC Italia acquires Milanofiori Energia and expands its activity in the district heating market

Piacenza, November 17, 2023 – On the 16th of November 2023 GETEC Italia S.p.A, the Italian platform of GETEC Group, a leading European supplier of energy efficiency services on behalf of real estate and industrial clients, has brought to fulfilment the acquisition of 100% of the share capital of Milanofiori Energia S.p.A from Brioschi Sviluppo Immobiliare S.p.A group and Amafin S.p.A group. 

“The acquisition of 100% of Milanofiori Energia allows us to consolidate GETEC Italia’s position as a leader in the Italian market for the supply of energy efficiency asset-based solutions. This, combined with the investment already carried out in the same territorial area through the recent acquisition of two district heating networks in Rozzano and their respective energy production systems, intensifies its role in the urban regeneration happening in the southern area of Milan. Moreover, GETEC Italia’s collaboration with Brioschi Sviluppo Immobiliare group on other projects launched in the same area with a strong focus on decarbonization opens the doors to new investments with positive impacts on the social, urban and infrastructural context”, said Giovanni Pontrelli, CEO of GETEC Italia.

Milanofiori Energia S.p.A owns and manages a cogeneration plant and the connected district heating private network serving the Milanofiori Nord district in Assago, by virtue of a grant with a residual maturity of 36 years.

The plant consists of 3 heat generators powered by natural gas with 6,6 MW power each, a cogeneration engine fueled by natural gas, 2 MW thermal and 2 MW electric, and 2 km of heat distribution network that serves 21 clients, mainly industrial and tertiary.

"The expansion of GETEC's activities in the district heating market is an important pillar of our growth and sustainability strategy. This is a great success for our Italian colleagues, which also marks the beginning of a fruitful partnership with the Brioschi Sviluppo Immobiliare Group for further sustainable real estate initiatives," said Pierre-Alain Graf, CEO of the GETEC Group.

“We strongly believe that the transfer of Milanofiori Energia to an important and highly qualified international operator, after the necessary start-up period of the plant and the development period of Milanofiori Nord district, on the one hand represents continuity and efficiency of the service, and on the other hand may generate wider positive effects, thanks to synergies that GETEC Italia can develop with the district heating network already managed by the Rozzano municipality” commented Eugenio Kannès, CEO of Brioschi Sviluppo Immobiliare.

GETEC Italia has been supported by Simmons & Simmons for legal assistance with a team coordinated by partners Mauro Pisapia e Marco Muratore and made up of associate Dalia Abbate and trainee Carla Nuzzolo for M&A aspects and associate Martina Baraldo and trainee Valeria Benedetti for Public Law issues, of Ginini Antipode in financial and fiscal due diligence activity and of RINA Consulting for technical due diligence activity. Brioschi Sviluppo Immobiliare was supported by Priori office and assisted by legal advisers of Bonelli Erede with partner Renato Bocca and senior associate Alessandra Morandini.

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MILANO, ITALY - JUNE 21: Getec plant in Rozzano shoot on June 23, 2022 in Castrezzato, Italy. (Photo by Guido De Bortoli/Getty Images for Getec)

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