Finadvice Mediterranean has advised Enerqos Energy Solutions (EES), one of the leading Energy Service Companies (ESCOs) in Italy, in securing an industrial partner. The Brescia-based and privately owned utility EGHolding which distributes and supplies natural gas to approximately 600.000 customers primarily in Northern Italy with a 3.700 km gas distribution network, has underwritten a dedicated capital increase and is now interested in a 37% stake in EES. EES is controlled by Adaxia Capital Partners (formerly Climate Change Capital), a private equity fund with its main seat of business in London. EGHolding and EES share a common strategic intent to increase their exposure to the B2B market for energy efficiency in Italy which is estimated at almost € 3 billion annually and is expected to undergo sweeping changes and experience significant industrial synergies through a trend towards consolidation and vertical integration between incumbent utilities and ESCOs.
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