4 april 2022 – Pietro Fiorentini Group has finalised the acquisition of 60% of the shares of Sartori Ambiente S.r.l., with the remaining 40% being held by the founding partner Michele Sartori.
Pietro Fiorentini is one of the largest industrial companies in Northeast Italy, with headquarters in Arcugnano (Vicenza). The Group employs more than 2,000 people worldwide with a 2021 turnover of EUR 466 million, a figure that is set to increase by more than 17% over 2020. The company’s core business is in the natural gas supply chain (processing, transport and distribution), with leading positions in Smart Metering and Smart Grids projects. Over the last few years, the Group has been making efforts towards seizing new opportunities in the energy transition (biomethane, hydrogen and power-to-gas) and has extended its scope to water measurement, the digitalisation of the water cycle and the environmental sector.
With this transaction, Pietro Fiorentini strengthens its position in the biowaste-to-energy value chain as a supplier of state-of-the-art plant engineering solutions. The Group is already present in the sector thanks to the software solutions developed by Terranova and its subsidiaries Ambiente.it, Arcoda and Giunko.
“We are confident that this transaction will boost growth in sectors adjacent to those traditionally covered by our company – says Cristiano Nardi, Executive Chairman of the Pietro Fiorentini Group. – Production, commercial and organisational synergies between leaders in their respective markets will ensure growth and the development of increasingly innovative and sustainable solutions, in line with the latest technological and management developments.”
“Thanks to this operation, we are achieving our goal of establishing ourselves as leaders in the waste management chain in Italy and worldwide – states Michele Sartori, President and Managing Director of Sartori Ambiente. – This partnership with Pietro Fiorentini and Terranova will increase our capacity to support Italian municipalities and customers as we rise to the challenge posed by the Italian National Recovery and Resilience Plan (PNRR) to develop projects aimed at improving the separate waste collection system. It will also help us develop a circular economy through the recycling process of waste and by-products for sustainable gas production.”
Pietro Fiorentini, founded in Bologna in 1940, is one of the major industrial companies in the North East of Italy, with headquarters in Arcugnano (Vicenza). The Group has around 30 locations amongst its manufacturing and commercial sites, both in Italy and abroad, and employs around 2,000 people worldwide. In 2021 it reached a turnover of EUR 466 million, 17% higher than in 2020. The Group has a solid customer base including natural gas distribution and transmission companies, Oil & Gas companies, EPC, utilities and industrial end-users, which recognize its absolute standing in terms of product and process innovation. At the core of the company’s production is a wide range of technologically advanced solutions all along the natural gas system: from components and services for transmission and distribution networks, to a series of engineered systems that include valves, multi-phase meters, process plants, reducing and metering systems. In the last ten years the company has made significant investments in R&D, M&A, plants and production means, which have led to a leadership position in the Smart Metering sector and more generally in Smart Grids. In the context of the energy transition process, the company has enhanced its efforts to seize the new opportunities related to green energy sources such as biomethane, hydrogen and power to gas. More recently, the Group is expanding its horizons towards water metering, water cycle digitalization and in the environmental sector.