EQT backs Italian energy efficiency specialist Antas

The deal values the company in the €150-200m range, Unquote understands.

German entrepreneur Karl Gerhold, founder and board member of Hannover-based energy services company Getec (which was acquired by EQT in February 2017), will control the majority stake in Antas, while Giglio will retain the remaining 30%.

The GP deployed capital from its EQT Infrastructure III fund, Unquote understands. The vehicle held a final close on its €4bn hard-cap in February 2017, after less than six months on the road. The firm has recently raised a fourth vehicle, EQT Infrastructure IV, which held a final close on its hard-cap of €9bn in March 2019.

The investment in Antas follows the recent opening of an office in Milan to strengthen EQT's presence in the country and support its investment activity in the Italian market.

Company
Established in 1948 as part of Giglio, Antas is based in Gragnano Trebbiense, near Piacenza, and specialises in energy efficiency. The company provides businesses with remote monitoring and management, acquisition and data registration, data surveys, and energy recovery, as well as client support and behavioural training to help them meet their energy efficiency and sustainability targets. It employs 300 staff and generated revenues of €110m in 2018.

Advisers
Acquirer – Rothschild (corporate finance); Clifford Chance (legal).
Vendor – Mediobanca (corporate finance).

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