Turbocoating SpA, Rubbiano di Solignano (Parma), Italy-based independent company that specializes in development and manufacturing processes for advanced protective coatings and surface treatments for turbine airfoils of gas turbines, received a €20m financing.
The transaction, which includes both a minority equity investment and a convertible loan, aims to help the company continue to grow in the USA and Europe.
Founded by Nelso Antolotti, Turbocoating, which is part of UnitedCoatings Group along with Eurocoating, Artec, Turbocoating Corporation (USA) and Surface Dynamics (USA), supplies components, coatings and advanced manufacturing services to original equipment manufacturers (OEMs). In 2011, the company expanded with a new facility located in the North Carolina (US), which will support closer the 60 Hz market.
Clients include Siemens, Alstom in the energy sector and Zimmer and Tornier in the biomedical sector.