Green Network announces acquisition of Tradeinv Gas & Energy and Energrid, part of HII Sarl (Holding for International Investments).
According to Giovanni Barberis, General Director of Green Network: “The acquisition of Energrid/Tradeinv strengthens our position in the Italian market. Almost 2 billion in turnover, 500 thousand meters served, and 10 TWh of volume sold make Green Network one of the main and future players in the energy sector.”
The business assets of the 2 acquired companies, which belonged to the US fund HII Sarl, recorded a total turnover of 800 million euros in 2016.
Piero Saulli, President of Green Network, adds “This operation allows us to significantly strengthen our sales of electricity and natural gas in Italy. This is a business combination in line with market trends, which is part of our strategy. Focusing on a continuous growth path, as already demonstrated by our arrival in Great Britain.”
Green Network was founded in 2003, following the deregulation of the Italian electricity market. The Group is mainly active in the power and gas market, where it operates as a wholesaler, trader and supplier throughout Italy. It also operates in the production of electricity, mainly from renewable sources, through the management of owned facilities. The Group has also recently expanded to include the business and domestic energy markets in Great Britain.