L&B Capital Acquires 80% Stake in Ortea

L&B Capital sgr, formerly known as Soprarno sgr and part of the Banca Ifigest group, has secured a controlling 80% stake in Ortea, a Milan-based international player in power quality and energy efficiency solutions. This strategic acquisition was executed through L&B Capital's dedicated Italian Renewable Resources (IRR) fund.

The transaction was finalized following the successful adjudication within the framework of a court-supervised restructuring procedure concerning Icar, Ortea's previous majority shareholder. This development marks a significant step for Ortea, aiming to leverage L&B Capital's industrial focus and long-term vision to revitalize its operations and pursue expansion.

Ortea reported robust financial figures for 2024, generating €22.6 million in revenue and achieving an EBITDA of €2.4 million, while managing a net debt of €4.5 million. The company's expertise in power quality is increasingly vital as global energy systems undergo significant electrification and modernization, a trend underscored by the growing demand for advanced energy management technologies.

Massimiliano Scarpellini, CEO of Ortea, expressed optimism about the partnership, highlighting L&B Capital's role in ushering in a new growth phase. He emphasized the intention to build upon Ortea's established technical capabilities and market reputation. This move aligns with L&B Capital's strategy for the IRR fund, which is actively seeking to consolidate and grow businesses within the dynamic power quality sector.

The IRR fund, launched in 2024, is a key vehicle for L&B Capital's investments in the energy transition and ecological sustainability. Having already raised over €255 million from private investors and family offices against a target of €280 million, the fund is actively deploying capital. It operates under Article 8 of the SFDR, focusing on Italian SMEs contributing to decarbonization and sustainable growth. This investment in Ortea follows the fund's prior commitment to E-Shore, a provider of integrated electric mobility energy services.

Cristian Pulitano, a partner at L&B Capital sgr, articulated that the Ortea acquisition is a perfect fit for the IRR fund's mandate. He pointed to the critical role of power quality in supporting the ongoing energy transition and Ortea's potential to serve as a foundational platform for future industry consolidation. L&B Capital sgr manages approximately €2 billion in assets, demonstrating its significant presence in the alternative investment space.