White Summit Capital, a specialised energy transition infrastructure manager, has signed an investment agreement to partner with the Grassi family’s Graded Holding to acquire a majority stake in Grastim, a leading Italian distributed energy infrastructure company providing integrated, asset-backed energy solutions to industrial clients.
The transaction is WDIF-II’s first platform investment in Italy. The country’s distributed energy sector is experiencing strong momentum as industrial companies accelerate their decarbonisation strategies, providing outstanding growth opportunities for Grastim.
Led by Chief Executive Officer Gianfranco Milani and Chairman Vito Grassi and supported by a team of approximately 50 industry specialists, Grastim has built one of the strongest distributed energy platforms in the Italian market over the past two decades. The company serves a portfolio of blue-chip multinational industrial clients through a fully integrated, asset-backed model under which it designs, finances, builds and operates distributed energy systems tailored to its clients’ industrial processes.
This integrated model offers Grastim’s industrial clients an off-balance sheet, fully managed solution that delivers secure and efficient energy supply at competitive prices.
The Grassi family’s Graded Holding, Grastim’s existing shareholder, was seeking a long-term infrastructure partner to support the next phase of growth, which involves funding the deployment of new technologies to further decarbonise industrial processes and investing in complementary grid-scale renewable energy generation assets.
WSC will provide funding to support Grastim in accelerating the delivery of a pipeline of projects requiring approximately €300m of capital expenditure over the next five years. The investment aligns with the core mandate of WSC’s DIF-II Fund to support industrial decarbonisation through the development of essential energy transition infrastructure.
Vito Grassi, Chairman of Grastim, commented: “Partnering with White Summit Capital allows us to rely on a strong infrastructure investor that has already proven expertise in industrial decarbonisation. Thanks to WSC’s support, we will accelerate the deployment of innovative and reliable energy solutions for our clients, strengthening our position as a trusted long-term partner. We would like to thank Intesa Sanpaolo for its long-standing support in financing the Group, Mediobanca for acting as sole financial adviser in the context of the transaction, Alfredo Mazzei and Adriano Di Micco as advisers of Graded Holding and Bonelli Erede as legal adviser.”
Pablo Pallás, Managing Partner at WSC, added: “Over the past two decades, Grastim has demonstrated its ability to deliver high-quality, integrated infrastructure solutions for leading multinational industrial clients. We are pleased to support Vito, Gianfranco and the wider team in this next phase of growth, accelerating the deployment of new investments to advance the decarbonisation of their clients.”
About Grastim
Grastim is a leading distributed energy infrastructure company based in Italy. It has c.50 employees and one of the longest track records providing integrated energy solutions to industrial clients, including the financing, installation, operation and maintenance of on-site energy systems. Grastim currently operates nine industrial sites and has a pipeline requiring approximately €300m of capital expenditure over the next five years.
About White Summit Capital
White Summit Capital is an independent infrastructure fund manager headquartered in Zug, Switzerland. Founded in 2011, the firm has been investing in mid-market, value-add infrastructure opportunities across Western Europe on behalf of its investors. Since inception, WSC has strategically focused on powering energy transition infrastructure, deploying capital into profitable growth sectors that are critical to a lower-carbon economy and a resilient energy sector. These sectors include decarbonisation of demand, reliable energy and sustainable transportation.
https://www.whitesummitcap.com/
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