That accelerates its strategy in water sector and aims at digital innovation with the acquisition of Aquanexa, a group specializing in integrated water cycle management. The Roman multiutility, through its subsidiary a.Quantum, has submitted a binding offer to acquire up to 100% of the company's capital, which has been accepted by Algebris Investments through the Algebris Green Transition Fund. The transaction will enable Acea to integrate advanced technological expertise and innovative operating models, strengthening its position in the water sector and supporting the evolution towards more efficient, resilient, and sustainable infrastructure management. For Algebris, the transaction represents the first exit of the fund and generates a significant liquidity event for investors approximately two years after the initial investment.
Who is Aquanexa
Founded in 2024Aquanexa specializes in providing integrated water cycle management solutions, combining digital technologies, advanced sensors, network engineering, and operational services. The company supports utilities, public bodies, and businesses in the digitalization of water processes, positioning itself as a partner for more efficient and sustainable resource management.
In just a few years, Aquanexa has experienced significant growth: today it has 320 employees, €150 million in revenues and an EBITDA of approximately €27 million, thanks to an expansion strategy that includes eleven completed acquisitions and additional transactions in progress.
Financial details of the operation
The agreement provides for a fixed amount and components earn-out variables, linked to EBITDA growth in 2025. Any expansion of the company's perimeter, resulting from ongoing acquisitions, could increase the earn-out within the limits established by the offer.
The completion of the transaction is expected within the first quarter 2026, subject to antitrust authorizations and the signing of the final agreements.
Comments
Fabrizio PalermoAcea's CEO, emphasized the importance of the transaction for technological leadership in the water sector: "Digital skills, robotic technologies, and AI-based predictive systems are needed to innovate an industry that requires significant investments and forward-looking operating models to compete. Acea's goal is to continue generating value, growth, and economic development with an innovative industrial model that surpasses current standards."
Luca Valerio CameranoAlgebris Green Transition Fund Managing Director and Senior Partner, commented: “Aquanexa fully embodies Algebris' strategy of creating new industrial players capable of providing innovative solutions and approaches. Launched in early 2024 with an EBITDA of €1,3 million, the company has benefited from strong organic growth in two years and, through eleven acquisitions, has now reached a team of approximately 320 people, €150 million in revenue, and €27 million in EBITDA. Algebris is thus selling a leading Italian industrial group, diversified and resilient to the evolving investment needs of water supply chain operators. We are proud to have built a new market player capable of generating tangible value for its clients, stakeholders, and Algebris investors. We would like to thank Aquanexa's management team for their contribution to the success of this important initiative.”
Last updated Thursday, December 18, at 14:15 PM
