Harcos Capital Partners announces the birth of Green Alliance, a new reality that aims to play a leading role in the development of the renewable energy sector, in particular of combustible biomass.

Green Alliance is the result of the aggregation of three of Italy's leading companies in the woody biomass distribution sector’, the Woodtech group, Ricci Pietro and My Fire, which in 2023 achieved a combined turnover of approximately € 100 million. The transaction is the starting point of an ambitious project aimed at transforming Green Alliance into a European leader in its market, also through the aggregation of other complementary companies.

The entrepreneurs already at the helm of the three companies involved in the transaction - Daniele Rigamonti (Woodtech Group), Francesco Fabbri (Ricci Pietro) and Pietro Di Sarno (My Fire) - will take on the role of operating partners of Green Alliance and will also remain at the helm of their companies, maintaining significant management autonomy, guaranteeing continuity and enhancing the value of the experience accumulated.

The operation is part of a context of rapid evolution in the biomass sector, with the aim of strengthening Italy's role as a European player in the distribution of renewable energy derived from wood sources. Green Alliance aims to integrate skills, resources and distribution networks, improving the stability and reliability of supplies, with concrete benefits for the entire market and end consumers.

Thanks to rationalised logistics and economies of scale, the group will be able to optimise operating costs while ensuring more competitive prices and greater product availability, in line with the principles of environmental and economic sustainability.

Woodtech Italia was assisted by the Mid Cap Advisory team of EQUITA, the Italian partner of Clairfield International, and by Simmons & Simmons.

Harcos Capital Partners was assisted in the legal aspects of the transaction by Giovannelli e Associati and EY. Lawyers Oriana Granato and Maria Teresa Iannella, EY Partner of Studio Legale Tributario, assisted Harcos Capital Partners for the legal and labour aspects. Rossella Patella, Partner EY of Studio Legale Tributario, advised on the tax aspects. For business aspects HCP was assisted by OC&C.

Ricci Pietro was assisted by Studio Consulenza Ravenna and Studio Cartwright-Pescatore.

My Fire was assisted by Intergroup and Scouting Capital Advisors and, for the legal aspects, by Legance - Avvocati Associati.

Salvatore Aurelio Rubino, Chairman of Harcos Capital Partners, said: "With this operation we aim to act as the lintel of an aggregation and efficiency-boosting process in a sector that to date has been very fragmented, providing not only capital but also ideas, experience and relationships, and making ourselves guarantors of effective, collaborative and balanced governance."

Daniele Rigamonti, CEO of the Woodtech Group and Green Alliance, added: "The union of the three main Italian biomass fuel companies allows us to consolidate our leadership and offer consumers a safe, sustainable and competitive supply. With Green Alliance, we actively contribute to the growth of renewable energies, supporting the ambitious goals of the European Green Deal: reducing CO₂ emissions by 55% by 2030 and achieving climate neutrality by 2050."

Pietro Di Sarno, CEO of Intergroup and MyFire, emphasised: "This consolidation of Italian excellence is only the beginning of an ambitious growth path. We aim to double our consolidated turnover in the next few years, supported by further acquisitions already at an advanced stage, with the goal of becoming a leader in the biomass sector for domestic heating, and to strengthen our presence also in European markets. In fact, the group is already active in France, Holland and Croatia."

Francesco Fabbri, CEO of Ricci Pietro, concluded: "Green Alliance will also be an opportunity for many other companies operating in the sector. With Green Alliance we do not set limits to the group's growth: our goal is to expand the alliance, welcoming future strategic partners to further develop the project. A group that will immediately establish itself as a market leader, creating commercial synergies and optimising logistics in order to improve results and customer satisfaction. Green Alliance aims to offer households and businesses competitive prices by providing them with products with the highest quality standards, to ensure green heating."

Woodtech Italia was founded in 2006 by a Swiss industrial group that invests in environmental assets. With over thirty years of experience in wood processing, from the sawmill to the finished product, the company produces standard and custom-made wooden packaging for all types of industrial and commercial needs. It was during the years of packaging production that the need arose to make the most of virgin wood processing waste in order to give it new life and ecological efficiency: this is how the idea of creating the first pellet factory in Switzerland came about, a country rich in forests from which to source the raw material. Today, Woodtech Italia boasts production partners in Europe and around the world that guarantee the distribution of our pellets throughout Italy and part of Europe thanks to the Woodtech France division, founded in 2015. 

Harcos Capital Partners is an independent investment holding company, formed by a cohesive group of professionals and qualified investors, whose mission is to make investments in excellent companies, supporting them through the professional, relational and financial resources made available by its partners in order to realise success stories and value creation paths. 

Ricci Pietro was founded in 1945 initially carrying out grain and agricultural products trading activities as well as the storage and retail activities at the warehouse adjacent to the house.
After almost 80 years of activity, now Ricci Pietro is the national leader in the pellet trade and provides its customers with a professionalism and service (quality and continuous availability of goods, transportation, storage, packaging) unique in the industry.

My Fire is one of the leading companies in the biomass sector for home heating and, in addition to Italy, is active in France, Holland and Croatia.