AMBIENTA SGR INVESTS IN TOWER LIGHT SRL LEADER IN THE PRODUCTION AND MARKETING OF LIGHTING TOWERS

Posted on: 21 February 2012

Total value of the investment: € 13.5 million for an 82% stake in the Company

 

Ambienta SGR, the largest European private equity fund specialised in the environmental sector, has finalized an agreement through Ambienta I fund to invest in Tower Light S.r.l., a leader in the production of lighting towers. 

 

Lighting towers are an outstanding solution in terms of energy efficiency, effective illumination and safety in all situations where an effective, temporary lighting is required, such as in the construction or maintenance of infrastructure but also in airports, ports and events. Tower Light is positioned in the market as the technological leader, and energy efficiency is one of the hallmarks of its products.

 

The investment – structured through a leveraged buyout with a limited amount of leverage – amounts to € 13.5 million and allows Ambienta to acquire an 82%  stake in the company, while the CEO Andrea Fontanella will retain most of the residual equity by reinvesting a portion of the proceeds from the sale. 

 

Following the completion of the deal, Mauro Roversi, Partner of Ambienta, Francesco Lodrini, Associate, and Dario Duse, Operating Partner, will be appointed to the Board of Directors of Tower Light, which will be led by the current CEO Andrea Fontanella.

 

Headquartered near Pavia, Tower Light was founded in 1997 and up to 2008 operated almost exclusively as a production site, delegating sales to a network of distributors. 

 

After taking over the distribution activity in 2009, the company was able to post a strong growth through technological innovation (with specific, diversified product lines featuring significant energy saving compared to other products in the market), a tight control on production costs and margins and a steady geographical expansion. As a result, Tower Light today sells its products across 50 countries and commands a 30% market share in Europe, as a result of leading positions in Italy, the United Kingdom, the Netherlands, France and Scandinavia, and a growing presence worldwide, mainly in Australia, the MiddleEast and Latin America. Export sales represent 85% of the total.

 

The revenues of Tower Light have almost doubled in the last three years, from € 16 million in 2009 to € 30 million in 2011. 2011 EBITDA tripled with respect to 2009, a further proof of product leadership and sound commercial strategy. The first quarter of 2012 is confirming the growth trend, with an order intake fostered by growing economies of the likes of South America, the Middle East and Australia.

 

Through its investment, Ambienta I will support Tower Light to the next stage of its development  path, which points to the strengthening of its leadership in Italy, the United Kingdom and the Netherlands,  a Stronger presence in France, Australia, Scandinavia and the Middle East, a further expansion in emerging markets such as Brazil, Chile and India, and the exploitation of the new product range already developed under the DF Ecology line, which includes a dust control system (Dust Fighter) able to abate dust generated by demolition and similar activities while consuming one tenth the water used by traditional systems. 

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