Ambienta acquires Tower Light

The investment was made through Ambienta I, which closed on €217.5m in October 2009. Tower Light CEO Andrea Fontanella will reinvest a portion of the sale's proceeds to retain the remaining stake.

The investment will support the international expansion of the company and the development of a new product range. It is in line with Ambienta's focus on the environmental sector.

Company
Headquartered near Pavia and founded in 1997, Tower Light produces and distributes energy-efficient lighting towers for construction and other applications. The company provides a temporary lighting solution for the construction and maintenance of infrastructure, but also for airports, ports and events. The growing number of construction sites operating at night and requiring energy-efficient solutions in emerging countries provides market opportunities for Tower Light.

The company sells its products in 50 countries, primarily in Italy, the UK, the Netherlands, France and Scandinavia. In the last three years, revenues have almost doubled from €16m in 2009 to €30m in 2011.

People
Ambienta partner Mauro Roversi, associate Francesco Lodrini and operating partner Dario Duse have been appointed to the Tower Light board following the transaction. Roversi and Lodrini led the deal for Ambienta. Andrea Fontanella is CEO of Tower Light.

Advisers
Equity – Labruna Mazziotti Segni (Legal); CBA (Tax); Ernst & Young (Financial due diligence); Global Strategy (Commercial due diligence).
Company – Cross Border (Corporate finance); Marcello Marcantonio (Legal).

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• Topics
• Southern Europe
• Infrastructure
• Buyouts
• Italy