Hera signed a binding agreement on 19 January 2026 to acquire the Sostelia group, a private Italian operator of water and industrial and civil wastewater treatment plants, at an enterprise value of €138m.
Why Hera Group is buying Sostelia Group
Hera said the deal makes it Italy's leading player in water treatment. Sostelia, whose companies include STA of Mantua, Trentino Acque and Acque della Concordia, operates more than 1,200 plants for over 1,200 clients, about 70% of them industrial.
Deal terms and financing
Hera is buying 100% of STA and its stakes in the group's subsidiaries from Xenon Fidec, which held 65%, and minority entrepreneurs. Websim put the implied multiple at 6.9 times 2025 EBITDA, close to Hera's own 7.1 times. Smart SEA was carved out of the perimeter before closing.
Regulatory approvals and timing
Hera completed the acquisition on 16 March 2026 after all conditions precedent were satisfied.
Market context
Sostelia employs about 350 people and generates about €100m of revenue; Hera expects it to contribute more than €20m to consolidated EBITDA before integration synergies.
