CVC Capital Partners Fund VIII is pleased to announce the signing of an agreement with Enel Group to acquire 50% of Gridspertise, a leading smart grid OEM serving electricity infrastructure operators owned by the Enel Group through Enel Grids.

Gridspertise is an energy transition enabler, providing essential hardware, software and services to electricity infrastructure operators. Its products help customers transform traditional electricity distribution grids into smart grids and respond to the steep growth in power consumption demands.

Thanks to its high-quality products and innovative technology, Gridspertise is well-positioned in a large and global market of around €30 billions, with market leader positions in Italy, Brazil, Latin America and Spain and with strong global ambitions.

The product offering of Gridspertise includes smart electricity meters, smart grid devices – namely devices installed at a higher level of the electricity value chain which record energy flows and automate energy dispatching decisions – and software and services to enable these systems to function.

Andrea Ferrante, Senior Managing Director at CVC, said: “We are excited about this investment and look forward to working closely with Enel and the management team led by Robert Denda to further improve Gridspertise’s go-to-market capabilities, diversify the current geographical footprint and optimise operational performance.”

“Our global expertise in the space of energy infrastructure, with investments in Naturgy, PPC and PKP Energetyka, has been crucial to position ourselves as a reliable partner for Enel in Gridspertise. Gridspertise is a unique opportunity to leverage the growth of energy transition incentives offered by authorities worldwide”, added Jiri Zrust, Partner, Head of Infrastructure at CVC.

The transaction is expected to close in Q4 2022 and is subject to customary closing conditions.