KKR’s Pillarstone exits Sirti Energia to make it eight for Mutares

Mutares has bought the company as an add-on acquisition to its portfolio company Exi.

  • Pillarstone is a platform set up by the credit arm of KKR
  • Sirti Energia’s annual revenues are approximately €60 million
  • It is a construction and maintenance services firm for the energy infrastructure market

Pillarstone, a platform set up by the credit arm of KKR, has completed the sale of Sirti Energia to Mutares. The deal is an add-on acquisition for Mutares’ portfolio company Exi, a Rome-based provider of information and communication technology.

“This marks the eighth acquisition in 2022 and our fourth transaction within the energy sector,” said Johannes Laumann, CIO of Mutares. “Our expertise in this sector will help these newly acquired companies to benefit from each other and leverage synergies. I am confident that with the support of the Mutares team, Sirti Energia can fully exploit the growth potential triggered by the energy transition.”

Sirti Energia is headquartered in Milan and employs approximately 400 people across Italy. The company generates around €60 million in revenues. The company will be rebranded in the next few months.

Pillarstone is a Milan-based pan-European investor that works with European banks to provide capital to middle-market European companies.

Mutares is a private equity company based in Munich.