- PATRIZIA Infrastructure has acquired a 100% stake in Active Utilities on behalf of Australian superannuation fund client, Prime Super
- Acquisition sees PATRIZIA Infrastructure manage Australia’s largest independent Embedded Network platform, bringing together the ownership of Active Utilities and Savant Energy
- Active Utilities manages 75,000 utility meters across 800 multi-tenant buildings predominantly located in Victoria, Queensland and New South Wales
- The Embedded Network platform will benefit from significant growth opportunities driven by the expected acceleration of Australia’s energy transition as well as the build-to-rent residential sector
Sydney, Augsburg, 20 September 2023. PATRIZIA, a leading partner for global real assets, has acquired a 100% interest in Australian Embedded Network provider, Active Utilities, on behalf of superannuation fund Prime Super. Managed by PATRIZIA Infrastructure, the investment creates Australia’s largest independent Embedded Network platform, bringing together the ownership of Active Utilities and Savant Energy.
Active Utilities is a vertically integrated provider of Embedded Network solutions to multi-tenant buildings across the residential, commercial and retail sectors in five Australian states. The company procures and supplies electricity, gas and water, as well as provides end-to-end billing and customer support services. It currently operates a national portfolio of 75,000 utility meters spread over 800 high-density assets, with the majority of buildings located in the populous states of Victoria, Queensland and New South Wales.
The company has a strong contracted growth pipeline after successfully signing partnerships with a number of Australia’s leading property developers, which will significantly expand its portfolio over the next five years. It is also exploring the development and rollout of additional services including solar PV, EV charging and battery storage as part of Australia’s accelerated transition to renewable energy.
Saji Anantakrishnan, Head of Infrastructure for Australia and Asia at PATRIZIA, said: “Investing in infrastructure that ensures good value, reliable and efficient delivery of utility services is essential for addressing the challenges of rapid urbanisation in towns and cities across the world. Australia’s Embedded Network sector plays a vital role in supporting our expanding communities, while at the same time providing tenants and landlords with smarter, more sustainable solutions for their assets. Our acquisition of Active Utilities presented a strategic opportunity to create Australia’s largest independent Embedded Network platform, with the potential to deliver significant future growth for our long-term partner Prime Super.”
PATRIZIA Infrastructure originally launched Prime Super’s Embedded Network platform in 2022 with the acquisition of Savant Energy. The merger of Active Utilities and Savant Energy is highly complementary and will drive the future growth of the platform through further market consolidation and diversification into new territories and sectors across Australia.
In managing the platform, PATRIZIA will leverage its infrastructure experience to support the platform’s growth ambitions, with a focus on delivering sustainable outcomes for customers. Plans are in place to significantly expand the platform over the next five years to operate a national portfolio of 175,000 signed metering points and employ over 100 staff.
The growth of the Embedded Network platform will create strategic opportunities to leverage the renewables portfolio that PATRIZIA Infrastructure has developed and manages for Prime Super, which includes five wind farms in Victoria, Australia with a combined operational capacity of over 50MW.
Australia’s Embedded Network sector will be further enhanced by the expansion of the build-to-rent (BTR) apartment market and in due course the build-to-sell market. As demand for rental accommodation surpasses available housing, coupled with population growth and rising house prices, smart technology-enabled BTR assets are expected to grow rapidly over the next 10-15 years, with as many as 250,000 apartments estimated to be delivered in the BTR sector alone. Investment in Embedded Network infrastructure is crucial to sustain this growth, to support the expanding institutional rental market and to futureproof assets in the residential sector.
PATRIZIA: A leading partner for global real assets
With operations around the world, PATRIZIA has been offering investment opportunities in real estate and infrastructure assets for institutional, semi-professional and private investors for 39 years. PATRIZIA manages around EUR 58 billion in assets and employs over 1,000 professionals at 28 locations worldwide. PATRIZIA is making an impact since 1984 by helping children in need, since 1992 in close collaboration with Bunter Kreis (“colourful circle”) in Germany for aftercare of children with severe diseases and since 1999 through its support for the PATRIZIA Foundation. The PATRIZIA Foundation has helped around 280,000 children in need worldwide gain access to education and thus, has given them the chance of a better life over the last 24 years. You can find further information at www.patrizia.ag
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