Hera acquires Gigas Rete to expand in the North-East
The subsidiary AcegasApsAmga has signed a binding agreement with Brimsco to acquire 100 per cent of the Verona-based company for a sum in the region of 37 million euros
The gas network race is shifting to the Verona area, where Hera has secured a new acquisition and consolidated its presence in the north-east. The Bologna-based multi-utility company, through its subsidiary AcegasApsAmga, has signed a binding agreement with Brimsco to acquire 100 per cent of Gigas Rete, a company that distributes gas in 23 municipalities in the province of Verona.
The price has not been disclosed, but reports suggest the transaction is valued at around 37 million euros.
An investment that strengthens Hera’s position in an area where it already operates, fostering operational synergies. Gigas Rete, with over sixty years’ history in gas networks within the Veneto region, manages approximately 1,200 kilometres of pipelines and 57,400 delivery points, as well as the connected customers. The service currently serves over 140,000 residents and businesses across approximately 630 square kilometres.
The concessions fall within the two territorial areas of the Verona region, Verona 1 and Verona 2. Geography is a decisive factor: Hera is expanding its presence into an area adjacent to its existing operations, with potential economies of scale on maintenance and investment. The acquired company closed 2025 with a turnover of just over 9 million euros and an EBITDA of around 3.5 million.
Hera points out that the enterprise value – that is, the total value of the business, including the net financial position – is aligned with the RAB, the asset base recognised by the regulator for the purposes of tariff remuneration. The acquisition is expected to be finalised in the coming months, once the usual conditions precedent have been met.
For AcegasApsAmga, this will represent a significant leap in scale. “Once the transaction has been finalised, the company will manage over 300,000 delivery points and more than 4,500 kilometres of gas networks,” emphasised the chief executive Carlo Andriolo. The acquisition, he added, represents “a strategic step towards territorial continuity and will enable us to extend our standards of quality, safety and service continuity”.
