Gruppo Energie Valsabbia: Sells US Subsidiaries for $53 Million
Deal News | Feb 04, 2025 | Finance Community IT - 1 Corporate M&A
Gruppo Energie Valsabbia (EVA), an Italian player in the renewable energy sector, has sold its US subsidiaries involved in solar energy development and consultancy services for major Californian utilities for $53 million. These subsidiaries, acquired in 2017 for $3.5 million with financing from Simest and Intesa Sanpaolo, have seen significant growth from $6.5 million in revenue in 2016 to $45 million in 2024. Their EBITDA also rose from $0.6 million to $5.3 million over the same period. The sale is aimed at enhancing EVA's industrial development and long-term strategic growth. EVA had expert legal assistance from Carlo Periti of Studio Bertacco Recla & Partners. The group's emphasis remains on renewable energy and fintech through its subsidiaries while aiming for zero debt at the transaction's closure.
Sectors
- Renewable Energy
- Financial Technology (Fintech)
- Corporate Finance
Geography
- Italy – Gruppo Energie Valsabbia is headquartered in Italy with offices in Brescia and Milan.
- USA – The transaction involves subsidiaries based in the United States in the solar energy sector.
Industry
- Renewable Energy – EVA operates in renewable energy production and consulting, specializing in photovoltaic systems.
- Financial Technology (Fintech) – EVA's subsidiary Primaton is active in fintech, providing payment solutions and AI-based accounting services.
- Corporate Finance – The article involves significant corporate transactions, including the sale of subsidiaries and financial dealings.
Financials
- $53 million – Sale price of the US subsidiaries by EVA.
- $3.5 million – The original acquisition price of the US subsidiaries by EVA in 2017.
- $45 million – Projected revenue of the US subsidiaries for the year 2024.
- $5.3 million – Projected EBITDA for the US subsidiaries in 2024.
- Zero – Debt level of the American subsidiaries at the time of sale.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Gruppo Energie Valsabbia | Target Company | Company | An Italian company active in renewable energy and fintech. |
| EVA (Gruppo Energie Valsabbia Subsidiaries) | Selling Company | Company | Comprises US subsidiaries involved in solar energy and consultancy for Californian utilities. |
| Pietro Bonomini | President | Person | President of the American subsidiary companies sold by EVA. |
| Antonio Corradini | CEO | Person | CEO of the American subsidiary companies sold by EVA. |
| Carlo Periti | Legal Advisor | Person | Partner at Studio Bertacco Recla & Partners, assisted EVA in the legal aspects of the transaction. |
| Studio Bertacco Recla & Partners | Legal Advisor | Company | The law firm that guided the legal proceedings of the transaction. |