Iren: Growth through successful acquisitions

Abstract

Iren is an Italian multi-utility company, operating in the sectors of electricity, gas, thermal energy, water and waste management, technology and renewable energy services. Although the company roots date back to the early twentieth century, Iren was founded in 2010, when it inherited the municipal companies of Turin, Genoa, Parma, Reggio Emilia, and Piacenza. These and other acquisitions of smaller companies mainly in the waste and water industries in the subsequent years have contributed significantly not only to the Group’s financial growth, but also to making it into a resource for companies in the core territories, due to its technical know-how and financial flexibility. Because of its growth and positive results, especially in recent years, Iren is a case of value creation and distribution for all its stakeholders. In the coming years, Iren Group is expected to grow even further, both organically and externally. On the strength of its consolidated experience and persistent market fragmentation not only will the Group look at small and medium M&A transactions, as it has in recent years, but it will also consider significant deals, leveraging the business model it has developed over the years and its improved financial performance.