Ambienta I finalizes its first investment in Europe by acquiring 51% of Alpin Pellet S.a.s.

For Ambienta SGR, this is the first international investment and the second in the pellet sector, after the acquisition of 80% of Italiana Pellets Spa in August 2008.

Total investment in the project: € 2,5 million.

 

Milan, 23 November ‐ Ambienta SGR has announced the finalizing of an agreement for Ambienta I fund, the largest European private equity fund specialized in investments in the environmental sector, to invest in Alpin Pellet S.A.S. The project, accomplished through the vehicle Ambienta I Biomasse Srl, is the fund’s first investment abroad and involves the acquisition of 51% of Alpin Pellet, formed by a spinoff from Savoie Pan S.A., a French company headquartered in Tournon (Savois) active in wood byproducts and, for the past seven years, in the production of pellets, a solid biofuel composed of dried, pressed woody biomass, used to produce energy and heat.

The total investment by Ambienta, followed by partners Rolando Polli and Guido Rivolta, was € 2.5 million and will be achieved by subscribing an increase in capital, giving Ambienta a 51% interest in the company, to which Savoie Pan S.A. contributed its pellet activities. The purpose of the capital increase is, initially, to finance investments to expand production and later to finance growth through acquisitions. The investment will enable Alpin Pellet S.A.S. to double its production capacity, reaching 40,000 tons/year in 2010.

Ambienta founding partner Rolando Polli was designated chairman of Alpin Pellet, while the position of general manager will be filled by Maurizio Annovati, controlling shareholder of Savoie Pan. The acquisition of Alpin Pellet is Ambienta’s first international initiative and further consolidates its position in the pellet sector: in 2010, with the Italiana Pellets plant going into production (120,000 t/y) and the investments in Alpin Pellet, Ambienta will have a total production capacity (Italiana Pellets plus Alpin Pellet) of 160,000 t/y and will be the first Italian producer of pellets and one of the largest in Europe. Both companies are controlled by Ambienta I Biomasse Srl, chaired by Ambienta partner Guido Rivolta.

The pellet market in Europe is growing rapidly, from 1.5 million tons in 2002 to over 9 million tons in 2008. And, based on projections by AEBIOM (European Biomass Association), it is expected to reach over 50 million tons by 2020 for residential, industrial and services heating.