Geico-Lender, a Montesilvano (Pescara), Italy-based company that operates in the facility management sector and provides installation, management, specialised maintenance and integrated operation services for technological systems in residential and business properties, has received a €9m equity investment.
The round was led by Atlante Private Equity (which invested €6m), with participation from Fondo Italiano di Investimento (€3m).
Established in 1989, Geico currently has over 100 employees and turnover of approximately €17m. The company already used a portion of the capital to acquire full control of Padova-based Lender, which employs some 80 people, with turnover of approximately €21m in 2010.
The investment also aims at strengthening the two companies in their respective markets by expanding activities to peripheral areas and at encouraging the growth of Geico-Lender, which will have the opportunity to operate on a wider geographical scale and leveraging their diversified customer portfolio.