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Wednesday, February 21, 2024

Garrigues advises Parlem on Ecolium Energia acquisition

Garrigues has counselled Catalan telecommunications operator Parlem on the 100% acquisition of Ecolium Energia

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The Catalan telecommunications operator has acquired 100% of the Girona-based company Ecolium Energia, which manages photovoltaic self-consumption projects for individuals and companies and distributes clean energy.

The operation will be carried out from a new subsidiary created by Parlem, Parlem Energia, which is the company’s first major foray into another industry.

Parlem, which has been listed on the stock exchange since 2021, said in a statement that Ecolium expects to have a turnover of more than 3 million euros in 2022, four times that of last year.

Parlem will offer the photovoltaic installation service in its physical shops throughout the country. “With this operation, Ecolium will be able to accelerate its expansion, as it will incorporate 19 additional points of sale thanks to Parlem Telecom’s growing network of physical shops throughout Catalonia,” the group explains. “It will also benefit from the Catalan telecommunications operator’s customer service structure, which will generate clear operational efficiencies,” it adds.

The Parlem Telecom Group says it plans to launch products for the “commercialisation of energy at a fair price from sustainable sources”, as well as extend its activity in this sector to its Valencian subsidiary, Aproop.

Garrigues’ team advising Parlem was led by partner Naiara Bueno along with senior associate Arturo Noguer, a team who also advised Parlem on its IPO process.

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