Venpa gets €15m private investment

Italian private equity firm QCapital is to invest €15 million in rental company Venpa for a 42.5% shareholding in the business. The transaction, to close in May, will provide funds for “substantial” growth through additions to its fleet and acquisitions.

QCapital is a new firm created by five bankers led by Stefano Miccinelli, a former consultant with Bain & Co and McKinsey. The firm will specialise in small and medium sized companies with a three to five year investment period.

CTE machines in Venpa’s rental fleet.

Venpa, founded in 1981 and based in Dolo, Venice, is the largest aerial platform rental company in Italy, with a fleet of 4,000 machines. It also rents earthmoving equipment.

The company operates from 31 locations throughout the country and in Croatia. It employs 280 staff.

QCapital has created a subsidiary called Progetto Air SpA to invest in Venpa, and said that a €16 million credit line will be available for the business. Venpa and QCapital said the funds would be used to expand the fleet and make acquisitions.

Venpa told IRN that the focus for the business would remain Italy because it offers “ample opportunities”, but added that international markets were “extremely interesting”.

It also confirmed it would continue to invest in earthmoving equipment; “the earthmoving sector is strategic for Venpa. Therefore, in this sector [as well as aerial platforms] important investments were already made at the beginning of this year.”

Emanuela Pege, President and CEO of Venpa SpA, said; “We are proud and excited to start this journey together with QCapital.

“They are experienced and respected professionals who will allow us to seize the countless opportunities for growth in our increasingly dynamic and rapidly expanding market.

Venpa also operates a fleet of earthmoving equipment.

“For the women and men of Venpa we see a clear path forward as the leaders of the sector.”

Stefano Miccinelli, President of QCapital, added; “We are honoured to have Venpa as our first partner. Our goal is to foster the sustainable growth of excellent entrepreneurs and companies, through the contribution of capital and professional skills.

“Investing in Venpa is a solid starting point for QCapital: the company is an industry leader in a profitable and growing market. We are confident that, with our help, the group’s growth will be substantial, both through investments in the expansion of the fleet and through the acquisition of other operators in the sector.”