- 3i Infrastructure on Wednesday agreed to invest acquire Joulz from Stedin in deal worth €220m.

Netherlands-based Joulz leased essential energy infrastructure equipment and meters to a large and diversified customer base of industrial, commercial and public sector customers, and had two business units, each generating about 50% of total revenue: Infrastructure Services and Metering.

The infrastructure Services business unit designed, installed, leased and maintained medium voltage electricity infrastructure such as transformers, switchgear and cables under long-term contracts.

The metering business unit leased, operated and read about 50,000 electricity and gas meters for non-household customers under medium-term contracts. 'Joulz is an attractive addition to our portfolio, with a strong established asset base as well as good potential for growth as the Netherlands accelerates its transition to more sustainable energy use,,' said Richard Laing, Chair of 3i Infrastructure.'

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