Interpump Acquires Teknoice in Food Tech Deal

Interpump Group spa, a global leader in high-pressure pump manufacturing with substantial revenue streams, has finalized the acquisition of Teknoice, a specialist in industrial ice cream production machinery. This strategic move by the publicly traded Italian industrial giant integrates Teknoice’s innovative refrigeration technology into Interpump’s expansive portfolio, particularly within its Food & Beverage division.

The acquisition marks a significant exit for private equity firm Itago sgr, specifically its Itago IV fund. Itago IV initially invested in Teknoice in May 2021, acquiring an 81% stake from the company's founders. The investment thesis centered on advancing Teknoice's proprietary CO2 refrigeration systems, designed to replace traditional refrigerants and offer enhanced energy efficiency and reduced environmental impact in industrial food production.

Teknoice, based in Buccinasco, Milan, has established itself as a key player in the industrial ice cream equipment sector, holding the third global position. In 2025, the company reported approximately €29 million in revenue, demonstrating an 11% compound annual growth rate over the preceding five years. Its operational performance was further underscored by an EBITDA of €1.8 million, against a net debt of €4.5 million.

The synergy between Interpump and Teknoice is evident. Interpump’s existing capabilities in the Flow Processing Components for Food & Beverage segment align well with Teknoice’s specialized machinery. This integration is expected to unlock new avenues for growth and technological advancement, leveraging Interpump’s global reach and Teknoice’s specialized expertise in sustainable cooling solutions. Nicola Bordignon and Piergiorgio Fantin, partners at ITAGO, highlighted the successful growth trajectory and generational transition at Teknoice, emphasizing the significant development opportunities now available through Interpump’s extensive worldwide network.

This transaction represents the second successful divestment for Itago IV, following its earlier exit from Operamed, a manufacturer of modular sanitary devices. The proceeds from the Teknoice sale are substantial enough to have already returned over a third of the capital to Itago IV's investors, who initially committed €120 million to the fund. Beyond these two exits, Itago IV has also held investments in companies such as Vernici Caldart, Idrostudi, gruppo Apice, Eco-Techno, and SR-Mecatronic.

Meanwhile, Itago sgr is preparing for its next fundraising initiative, aiming to secure between €180 million and €200 million for its Itago V fund. This upcoming capital raise signals the firm's continued commitment to identifying and nurturing promising investment opportunities within its strategic focus areas.