PE-backed Eco Eridania buys Team Ambiente

The acquisition was funded through a capital injection of around €14.3m completed by existing investor Fondo Italiano di Investimento and new backer Xenon Private Equity. Xenon invested through Xenon Private Equity V, which closed on €150m in 2009.

The bolt-on will create a combined company with 280 members of staff and a turnover in excess of €54m.

Fondo Italiano di Investimento first backed Eco Eridania in 2011 with an equity injection of €10m. The company's revenues are expected to reach €25m at the end of 2012, compared to the €14.8m reported at the time of the original investment.

Company
Founded in 1983 and based in Prato, Team Ambiente specialises in waste management in the centre-north of Italy. The firm carries out waste collection, storage and transportation services directly, while its disposal services are completed by a third party.

The company has a €29m turnover and employs around 130 members of staff.

People
Gabriele Cappellini is CEO of Fondo Italiano.

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