Green Alliance Aims for European Leadership in Renewable Biomass

Harcos Capital Partners, an independent investment holding, announced the creation of Green Alliance, a new entity focused on the renewable energy sector, specifically in combustible biomass. Green Alliance is the result of merging three leading Italian companies in the wood biomass distribution industry: Woodtech Group, Ricci Pietro, and My Fire, which collectively achieved a revenue of around €100 million in 2023. The operation is the starting point of an ambitious project aimed at transforming Green Alliance into a European leader in its market sector by aggregating complementary businesses. This initiative comes amidst a rapidly evolving biomass sector, aiming to bolster Italy's position as a European leader in renewable energy from woody sources. Green Alliance plans to integrate expertise, resources, and distribution networks, improving supply stability and reliability, benefiting the overall market and end consumers. Through streamlined logistics and economies of scale, the group will optimize operating costs, ensuring more competitive prices and greater product availability aligned with environmental and economic sustainability principles. Key entrepreneurs from the three merged companies, Daniele Rigamonti (Woodtech Group), Francesco Fabbri (Ricci Pietro), and Pietro Di Sarno (My Fire), will serve as operational partners of Green Alliance while also leading their respective companies, maintaining significant managerial autonomy and continuity of experience. My Fire was assisted by Scouting Capital Advisors, with a team including Managing Partner Davide Milano, Associate Director Marco Croci, and Analyst Davide Vallosio. Legal aspects were handled by Legance – Avvocati Associati. Harcos Capital Partners received legal counsel from Giovannelli e Associati and EY on financial aspects. Business facets were supported by OC&C, while Woodtech Italia was advised by Equita Mid-Cap Advisory and legal advisors Simmons & Simmons.