49% of capital acquired in a US newco operating in the renewable energy sector
The CDP Group continues to support the internationalisation of Italian companies with a new investment that will have E.VA. Energie Valsabbia (EVA Group), a Brescia company operating in the renewable energy sector and in the field of energy efficiency services, conquering the USA market.
SACE and SIMEST, that together form the export and internationalisation hub of the CDP Group, both support the EVA Group's inclusion in new market segments in the USA through a new operation which foresees the acquisition of the Californian firm Alternative Energy Systems Consulting Inc. (AESC), operating in energy services which are mindful of environmental sustainability (distributed production, energy efficiency, renewable energies, electric-powered cars, and smart grids) for private users and the main utilities and Californian public authorities.
The operation will allow the EVA Group to expand its work to a sector with huge growth potential, in one of the most advanced and richest areas in the world, and achieve the objectives of the Industrial Plan which aims, on one hand, to boost hydroelectric and solar energy production, and, on the other, to supply innovative energy services. To the ends of these ambitious objectives, the EVA Group will hire more than 20 new engineers (specialising in informatics, electrical and mechanical engineering) from the best Italian and American universities over the coming 12 months.
The acquisition was made possible thanks to the EVA Group's incorporation of an American newco with SIMEST as a 49% shareholder (with an investment equal to 2 million Euros) and an Intesa Sanpaolo bank loan of 2 million Euros, guaranteed by SACE. Thanks to this operation, the EVA Group will make a consolidated turnover of over 25.0 million Euros and an EBITDA of 13.5 million Euros.
Opening new frontiers and business opportunities on foreign markets thanks to the CDP Group's export and internationalisation hub #wepromotethefuture of Italian companies.