3i Infrastructure completes takeover of Dutch firm Joulz

(Sharecast News) - 3i Infrastructure has completed the acquisition of Joulz Diensten, it announced on Wednesday, following the receipt of third-party approvals.The FTSE 250 company said it had invested €220m to acquire 100% of Joulz, which it described as a "leading owner and provider" of energy infrastructure equipment and services in the Netherlands.It first announced the transaction on 13 March, when it explained that its two business units - infrastructure services and metering - each generated about 50% of Joulz' total revenue.Joulz was also set to benefit from the Dutch government's commitment to decarbonising the country's economy through the electrification of heat and transport, its focus on increased energy efficiency and the expansion of renewable generation.The so-called 'energy transition' was expected to increase electricity consumption and demand for medium voltage equipment, with the focus on increased energy efficiency expected to drive growth in sub-meters and data analytics."Joulz is an attractive addition to our portfolio, with a strong established asset base as well as good potential for growth as the Netherlands accelerates its transition to more sustainable energy use," said 3i Infrastructure chairman Richard Laing at the time of the announcement.