NEM invests €2m in Menowatt

The fresh capital will enable the company to invest in new product development.

The deal marks the first investment for NEM in 2015. Last year it joined Idea Capital in a €25m round for automotive safety company Meta-Fin and invested €4.2m as part of a €8.4m round for biomass and geothermal energy business Energon.

The GP is currently investing from its €115m NEM Sviluppo Imprese II vehicle and manages three funds worth a total of €270m.

Company
Founded in 1993 and headquartered in Ascoli Piceno, in the Marche region of Italy, Menowatt provides consultancy, production and installation of energy efficient systems including smart metering and outdoor lighting. The company anticipates a turnover of more than €8m in 2015 and is aiming to increase this to €28m.

People
Adriano Maroni and Roberto Marcucci are shareholders and co-CEOs of Menowatt. NEM director Walter Gaiani and investment manager Andrea Turato will take a seat on the Menowatt board.

Advisers
Equity – Studio Lambertini & Associati (Legal); Adacta & Reconvi (Tax); Long Term Partners (Commercial due diligence).
Company – BDO Italia (Corporate finance).

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• Topics
• Expansion
• Southern Europe
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• Italy