Techimp AltaNova Group srl, specialized in the testing and monitoring of high and medium voltage electrical systems, controlled by NEIP III Sicaf (managed by Finint & Partners), has taken over US-based company Intellisaw (see the press release here). The company was sold by Emerson Electric Co, which in turn had purchased Intellisaw in October 2015 (see the press release at that time).
NEIP III was advised by Itago, an aadvisory and investment company established last April by the spin-off of Banca Finint‘s private equity team (see here a previous article by BeBeez).
Intellisaw specializes in the creation of temperature, humidity and partial discharge monitoring systems for medium and low voltage electrical equipment. Founded in 2011, it is based in Andover (Massachussets), where it will maintain its activities after the acquisition by Altanova. It has customers in the Usa, Europe, Asia and the Middle East.
The acquisition of Intellisaw completes the range of products dedicated to the Altanova medium voltage market, considered an important area for the growth of the group. “The addition of Intellisaw’s asset monitoring technology to the Altanova product portfolio substantially expands the business and intends to offer customers an even more complete solution for the secure and continuous operation of their electrical assets,” explained Gino Amadi, ceo of Altanova Group.
With over 100 resources employed in Italy, Germany, India, Usa and Singapore and a presence in more than 100 countries, Altanova Group represents a unique reference for off-line testing and online monitoring, as well as services for the assessment of conditions and maintenance of high and medium voltage electrical equipment. The group closed FY 2018 with revenues of 8.4 million euros, an ebitda of 1,5 milliosn and a net financial debt of 5.5 millions.
Techimp AltaNova Group was born in April 2017 from the aggregation between ISA Advance Test and Monitoring Solutions (historical company in the field of diagnostic equipment for the electricity sector founded by Gino Calini in 1937 in Turin and controlled by the Calini family) and Techimp (born in 1999 from a spin-off of the University of Bologna and technological reference in the field of partial discharge measurement). The aggregation was carried out by NEIP III, which holds 60% of Altanova, while Gino Amadi, who reinvested in the project, was appointed ceo of the new group (see here a previous article by BeBeez).
