ThermoKey enters a new phase of growth with the acquisition by IGI Private Equity

In 2013, ThermoKey overcame a critical moment thanks to investors Alberto Craici, Giuseppe Patriarca, Giorgio and Giuseppe Visentini, and Renato Cinelli, who acquired and relaunched it. Under the leadership of Giorgio and Giuseppe Visentini the company has developed into a solid industrial business with 230 employees and an annual turnover of €60 million, which has almost tripled in ten years.

Today, the company embarks on a new phase of growth, thanks to the acquisition by IGI Private Equity, with LGT Capital Partners and BNP Paribas BNL Equity Investments (BBEI) as co-investors.

IGI Private Equity, an Italian investor that has been successfully operating in the market for more than 25 years by selecting companies with distinctive and innovative technologies, has appreciated the work carried out so far by ThermoKey, with which it shares a sustainability-oriented vision. Likewise, LGT Capital Partners also operates with an ESG perspective with long-term investments, while BNP Paribas BNL Equity Investments specializes in supporting the growth of Italian SMEs with a long-term partnership logic.

The acquisition confirms Giuseppe Visentini as CEO. He will continue to lead ThermoKey along with the current management team.

With the support of a financial partner, ThermoKey is embarking on a new, more challenging and ambitious phase, in a stimulating and ever-changing context. A context that requires greater investments in order to expand abroad, seizing the opportunities offered by an increasingly global market, to increase its attractiveness to the workplace, and to consolidate its organizational, financial and governance structure.

“In these 10 years, we have worked hard as a management team to position ThermoKey among the leading companies in Europe in our sector, focusing on reliability, sustainability, and innovation. I am glad to continue leading the company with my team, alongside IGI Private Equity, which shares and supports our commitment to designing and producing solutions that respect the environment and improve people’s quality of life. Sustainability and digitalization are and will continue to be our main drivers of growth,” says Giuseppe Visentini, CEO of ThermoKey.

 

The management will continue to operate as now, strengthening the organizational structure to support the ambitious growth path planned. New professional figures will be recruited in the production, technical, commercial and industrial controlling areas.

Visentini adds that ThermoKey will continue to strongly invest in production capacity, technological upgrade of the industrial footprint, production process efficiency and automation, and research and development to consolidate the company’s leadership position.