Ecoteck Srl, a Brescia, Italy-based designer, producer and marketer of pellet‐fed stoves, heaters and boilers, has received a majority investment from Ambienta I fund, a European private equity fund focused on environment.
The investment, which will help the company expand in Italy and abroad, will be executed through a leveraged buy‐out, giving Ambienta a 60% interest in the company, while the Ravelli family has undertaken to maintain a 40% interest.
The transaction will be finalized with the prior contribution of assets and change of the company name to Ravelli Srl.
In conjunction with the investment, Isidoro Fratus will join the company’s board of directors in the position of non‐executive chairman. Stefano and Diego Ravelli will continue to lead the company, both with the title of CEO.
Ravelli closed 2009 with revenues of €25m (34% more than in 2008).