Stout is pleased to announce that its client, Ambienta SGR SpA (“Ambienta”), Europe's largest sustainability-focused investment fund, has sold its entire stake in Energy Wave S.r.l. (“Energy Wave”), to Antas S.r.l., the leading energy-savings contracting company serving the public sector in northern Italy. Stout served as financial advisor to Ambienta in connection with this transaction.
With locations in Milan, Dusseldorf, and London, Ambienta is a leading European private equity firm focused on niche-leading businesses driven by the environmental trends of resource efficiency and pollution control. With funds under management of €1 billion, the world’s largest capital pool for this strategy, Ambienta has completed 33 investments to date.
Energy Wave, headquartered in Alessandria, Italy, and with six commercial offices across the northwestern part of the country, is focused on delivering energy-efficient heating solutions to large residential buildings with centralized heating systems. The company holds strong brand recognition and leading market position in northwest Italy, serving over 2,000 buildings and 35,000 apartments. Energy Wave’s services include energy audits, engineering, and the installation, operation, and maintenance of modern heating systems and smart meters.
“Under the ownership of Ambienta, we successfully positioned Energy Wave to become a leader in the residential sector,” said Stefano Granella, CEO of Energy Wave. “We look forward to joining the Antas family and taking the company to the next frontier.”
Mauro Roversi, Partner and Chief Investment Officer at Ambienta, added, “Energy services, especially for the residential sector, have become increasingly strategic for multi-utilities that are striving to enter into new and profitable market segments that are driven by sustainable growth trends. The investment in Energy Wave addressed this trend in a market that historically featured massive fragmentation, lack of scale and limited geographic reach.”
Giacomo Mogni, a Managing Director at Stout and Co-Head of the Milan office, acted as financial advisor to Ambienta “Energy Wave and Antas is an exciting partnership that will further position the combined entity as a key player for growth and innovation in the world of energy efficiency.