BAT Spa, a Noventa di Piave (Venice), Italy-based producer and supplier of sun awnings and accessories, has received a €6.7m equity financing from Fondo Italiano d’Investimento.
As a result of the investment, Fondo Italiano will take a minority stake in the company.
BAT intends to use the capital to further grow organically, through the development of existing products and technologies, and the launch of new products, and through acquistions, expanding in Europe and USA.
The company’s production includes canopies, retractable arms awnings (either on square bar or independent brackets), cassette folding arm awnings, drop awnings, glass-roofs and conservatories awnings.
BAT, which currently employs 280 people, has a turnover of €44m.