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06/2025

ARES invests in PLENITUDE

ITALY Power Generation / Renewables EV 3b - 100b EUR

Context

Ares Alternative Credit Management has entered into an agreement to acquire a 20% stake in Plenitude through an investment of approximately €2 billion, becoming the company’s second minority shareholder alongside Energy Infrastructure Partners. The transaction supports the diversification of the company’s ownership structure while providing additional resources to expand its activities across renewable power generation, energy retail and electric vehicle charging infrastructure. The investment is underpinned by long-term structural demand for energy infrastructure and the continued shift toward low-carbon energy systems. For the investor, the transaction provides exposure to a platform operating in markets supported by favourable regulatory frameworks and sustained infrastructure spending requirements. For Plenitude, the addition of a new institutional shareholder strengthens its ability to execute its growth strategy while further reinforcing its position within the European energy landscape. The transaction highlights the growing appetite of global infrastructure investors for scaled and diversified energy transition platforms.

PLENITUDE, which reported an EBITDA margin of in 2025, is valued in this transaction at an EV/EBITDA multiple of .

Target

Plenitude is an integrated energy transition platform combining renewable power generation, energy retail services and electric vehicle charging infrastructure. Developed within the Eni group, the company operates a multi-business model designed to capture value across the full electrification and decarbonisation value chain. The company develops, builds and operates renewable energy assets while supplying electricity, gas and energy-related services to residential and commercial customers. In parallel, it deploys and manages EV charging networks supporting the growing adoption of electric mobility. This combination of activities enables Plenitude to integrate energy production, distribution and consumption within a single operating platform. Active across multiple European markets, the company relies on a diversified infrastructure base and in-house capabilities spanning project development, asset management, commercial operations and customer services.

Ent. Value

Equity Value

Multiples

EV / Revenue

EV / EBITDA

EV / EBIT

Historical Financials (EUR)

Year
Rev
EBITDA
EBIT
2025
2024

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REFERENCES

Valuation range: EV 3b - 100b EUR

Revenue range: 5b - 100b EUR

EBITDA range: 750M - 1.3b EUR

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of PLENITUDE by ARES are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Target: plenitude

Acquirer: ares