BackLuxembourg, 27 October 2025 – Marguerite, a pan-European infrastructure investor, and Fondo Italiano per l’Efficienza Energetica (“FIEE”), announce the signing of a definitive agreement to sell City Green Light S.r.l. (“CGL”), Italy’s leading independent public lighting and smart city operator, to Igneo Infrastructure Partners (“Igneo”), a global infrastructure investment manager.
The transaction involves the sale of shares held by Marguerite Infrastructure Italy II, FIEE SGR, and IPIN 2E S.p.A (a FIEE co-investor vehicle). It represents the transition of ownership following a period of significant development for the company and marks the beginning of a new phase in its growth under Igneo’s long-term investment approach.
Transforming public lighting and accelerating energy efficiency
Founded in 2017 following its’ carve-out from Gemmo, City Green Light has grown into Italy’s largest independent operator in the sector, managing around 1 million lighting points across more than 300 municipalities. Through long-term partnerships with local authorities, CGL provides energy-efficient public lighting and smart city solutions that help municipalities reduce energy consumption and their carbon footprint.
During the holding period of its current shareholders, CGL more than doubled its market share and expanded its service to include advanced smart city technologies, contributing to the country’s broader energy transition goals.
“We are proud of the role we’ve played in supporting City Green Light’s growth into a national leader in sustainable urban lighting,” said William Pierson, Managing Partner at Marguerite. “The company’s work demonstrates how innovation and efficiency in infrastructure can directly benefit local communities and advance the energy transition.
FIEE’s co-CEOs Longatti, Marano and Mellone added: “We are proud to have led City Green Light through an extraordinary journey of growth, during which EBITDA has increased more than sixfold and the company has established itself as one of the European leaders in the smart cities sector.”
“CGL is a high-quality infrastructure asset with resilient, inflation-linked cashflows,” said Alex Nassuphis, Managing Director at Igneo. “We are excited to support its continued growth and contribute to the energy transition through efficient urban infrastructure. We thank Marguerite, FIEE and IPIN who have played a pivotal role in developing CGL into a national champion.”
The transaction is expected to close in Q4 2025, subject to customary approvals.