Italian-based asset management firm Ambienta SGR has announced that Ambienta I, the largest European private equity fund focused on the environmental sector, has made a € 2.5m invested to acquire a 51% stake in Alpin Pellet S.A.S.
The company is a spinoff from Savoie Pan S.A., a French company headquartered in Tournon (Savois) active in wood byproducts and, for the past seven years, in the production of pellets, a solid biofuel composed of dried, pressed woody biomass, used to produce energy and heat.
The investment, accomplished through the vehicle Ambienta I Biomasse Srl and followed by partners Rolando Polli and Guido Rivolta, will be finance expansion of production and later growth through acquisitions.
According to an official statement, the investment will enable Alpin Pellet S.A.S. to double its production capacity, reaching 40,000 tons/year in 2010. In conjunction with the deal, Ambienta founding partner Rolando Polli was designated chairman of the company, and controlling shareholder of Savoie Pan, Maurizio Annovati, will become the general manager.
The acquisition of Alpin Pellet marks Ambienta’s first international initiative. It further consolidates its position in the pellet sector. In 2010, with the Italiana Pellets plant going into production (120,000 t/y), Ambienta will have a total production capacity of 160,000 t/y becoming the first Italian producer and one of the largest in Europe.