3i Infrastructure acquires Joulz for €220m

3i invests from its 3i Infrastructure Fund, which is listed on the London Stock Exchange and had a market cap of £2.23bn at the time of writing.

3i expects Joulz to benefit from the Dutch government's commitment to decarbonising the economy. Electricity consumption and demand for metering services is expected to rise following the transition.

Dutch distribution grid operator Stedin Groep is the vendor of Joulz, which launched the sale in June 2018. This acquisition comes after Stedin sold Joulz Energy Solutions in May 2018.

Joulz has two businesses, infrastructure services, and metering, each generating roughly equal revenues. For the first half of 2018, Joulz generated a turnover of €72m.

Company
Joulz provides energy infrastructure equipment and services in the Netherlands. The company leases, operates and maintains approximately 4,000 medium-voltage electricity installations, such as transformers, switchgear and cables, and approximately 50,000 electricity and gas meters. Joulz has more than 150 employees.

People
3i – Phil White (managing partner, head of infrastructure).
Stedin Groep – Marc van der Linden (CEO).

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