FIEE backs Cremonesi

FIEE invested €500,000 to buy the company's shares and deployed €10m via a capital increase. The GP expects the company's revenues to grow from €2m to around €10-12m by 2022.

FIEE is an Italian private equity firm dedicated to the energy efficiency and renewable sectors. Its debut vehicle, FIEE I, was launched with a €150m target in 2016 and held a final close on €166m in 2017.

It is managed by a team led by co-CEOs Raffaele Mellone and Andrea Marano, alongside president Fulvio Conti. Following this deal, the fund will be fully deployed.

Company
Established in 1991 and based in Verona, Cremonesi specialises in providing energy efficiency consulting and project management for SMEs, governmental agencies and organisations, and private clients.

It helps its clients implement efficiencies, driving improved energy performance and a reduction in carbon emissions, while minimising risks, meeting legal compliance and reporting environmental impacts. The company generates EBITDA of around €200,000 from revenues of €2m.

People
Fondo Italiano per l'Efficienza Energetica – Raffaele Mellone, Andrea Marano (co-CEOs).
Cremonesi – Renato Cremonesi (president).

Advisers
Equity – CE Legal (legal); PwC (financial due diligence); Fantozzi & Associati (tax).

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