Patrizia Infrastructure said the acquisition of Ottima – which includes an initial payment for the deal and planned growth capex – marks SCIF’s debut investment in Europe. Financial details were undisclosed.
Ottima works in partnership with small to medium-sized municipalities across the country to design, install, retrofit, finance, and manage smart streetlighting points. Ottima’s services also include the provision of public wifi, smart traffic lights, CCTV monitoring, electric vehicle charging stations, solar panels, and smart building technology.
This opportunity is yet another example of strategic and thoughtful investments that drive benefits for communities in Italy, which continues to be a key market for growth ambitions.
Patrizia has invested around €190m in Italy spanning both real estate and infrastructure.
Patrizia’s recent deals include the manager’s entry into the Italian student housing market with a €70m investment in Turin and investing €75m on behalf of its European Infrastructure Fund II fund to buy Italian bio-liquified natural gas producer Biomet.