PATRIZIA Infrastructure has plans to invest up to €140 million ($139 million) in Selettra S.r.l, Italy’s second-largest independent smart street-lighting company, acquiring the company from Fondo Italiano per l’Efficienza Energetica (FIEE) and its founders.
The investment will be made via PATRIZIA’s flagship smart cities strategy, the Smart City Infrastructure Fund (SCIF), which closed its second funding round in September 2021, bringing its total fund size to €750 million ($747 million).
The landmark deal, on behalf of Dutch pension giant APG, accelerates PATRIZIA’s growth ambition and strategy to enable smarter, better-connected cities in key markets around the world.
Selettra was founded in 1990 for the design, redevelopment, installation, finance and management of connected lighting points. Historically, it has been focused on southern Italy but has recently expanded to include the north of the country. It now is rolling out two additional smart