Redelfi Secures €5M Funding from Anthilia Capital Partners Funds

Redelfi spa, a Genoa-based holding company that invests in Italian and foreign companies with high growth potential, mainly in the green energy, fintech, circular economy, new technologies, and real estate sectors, and listed since June 2022 on the Euronext Growth Milan segment of Borsa Italiana, has secured a 5 million direct lending loan from Anthilia Capital Partners sgr.

The loan will be disbursed in full through the Anthilia BIT III and Anthilia BIT IV private debt funds, has a maturity date of December 2027 and amortizing repayment through the payment of semi-annual installments with a constant principal amount, following a 12-month pre-amortization period from the date of disbursement.

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As part of the transaction, Redelfi was assisted by IR TOP Consulting as transaction advisor, while the legal aspects were handled by the firm DLA Piper

The new resources will be allocated to the fulfillment of the Redelfi group’s business plan communicated to the market on November 2, 2022, and in particular to the development of the green business unit.

Redelfi has more than 15 years of experience in the renewable energy and innovation sector. Since 2008, it has been among the first Italian companies to focus on renewable sources to produce sustainable energy that is compatible with the needs of the environment. Redelfi is active in the digital and green transition through three business units operating in the green, MarTech, and GreenTech sectors. In fiscal year 2022, the group achieved a value of production of 4.5 million, EBITDA of 1.7 million, and shareholders’ equity of 9.3 million, against investments of about 6.4 million.

The growth of the green business unit is based, as per the Business Plan, on the BESS (Battery Energy Storage System) and CER (Renewable Energy Communities) projects

BESSs are battery storage systems that stabilize the grid by storing and releasing energy produced from renewable sources, which are non-programmable and unstable by nature. The instability is resolved by using batteries that store energy at peak times and then release it at times of underproduction, thus enabling a continuous power supply. BESS will also manage grid imbalances nationwide, becoming an infrastructure investment as well. Redelfi currently operates in the U.S. market through local strategic partnerships and plans to build a 1.4GW BESS pipeline by 2027.

This market has strong growth potential, presenting itself still at an embryonic stage. Redelfi’s next goal will be to enter the Italian market, which is also at an early stage, creating additional partnerships.

As for CERs, on the other hand, they are associations created among citizens, local governments, businesses and/or small and medium-sized enterprises for the purpose of producing and sharing energy from renewable sources in a limited geographical area. The CER development area in the business plan calls for the construction and operation of Renewable Energy Communities through the construction of photovoltaic plants with a maximum capacity of 1MW each, which will generate energy for the benefit of communities.

Davide Sommariva, chairman of Redelfi’s board of directors commented, “We are proud that an important entity like Anthilia has espoused our values and model, allowing us to go even further. Thanks to the underwriting of this financing, the strong acceleration already undertaken by our green business unit will become even more exponential. This represents another huge step forward for our Group, which wants to concretely contribute to a healthier future for the environment and for new generations. Motivated by these values, we are indeed meeting the timelines and goals set and shared with the market, further confirming our persevering and ambitious nature.”

Barbara Ellero, partner and head of private debt at Anthilia Capital Partners sgr said, “We believe that putting our trust in the most valuable and promising players within the renewable energy sector is a priority for our community today, even before reasons related to economic development. If we then consider the growth potential of the sector and the fact that Redelfi is a proven expertise with innovative and ambitious projects, we can understand the complete sharing of intentions between our companies. The group’s 15 years of experience in the renewable energy sector translates into unique know-how and a strong ability to ground projects, thanks also to the excellent network of partners that Redelfi has created over time in Italy and the US. In addition, the green nature of the group and its focus on ESG principles make Redelfi the perfect partner for Anthilia, which continues with satisfaction to support Italian SMEs that look to the future with a sustainable vision.”

Anthilia Capital Partners sgr in late March launched the alternative PIR Anthilia MUST

This is a highly diversified multi-strategy solution with periodic returns and controlled volatility that can offer significant tax advantages for private investors on private markets. The fund aims to support the growth of high-potential Italian companies that often have difficulty accessing traditional credit channels.

In addition, last October 2022 the sgr announced the first closing at €100 million of the alternative investment fund Anthilia GAP, dedicated to investments in the debt of companies in a special situation and which attracted the commitment of CDP through the Patrimonio Rilancio fund. The fund has funding targets of €250 million. By contrast, in February 2021 Anthilia Capital Partners sgr launched Eltif Economia Reale Italia, the first alternative PIR that invests in a balanced and equal way in private equity and private debt.

A fund that, thanks to the integration of the industrial and financial approaches, allows it to privilege a medium-term vision that is little affected by short-term market turbulence. The vehicle has a fundraising target of €100 million, a duration of 7 years, and is aimed at professional and private investors who invest no more than 10 percent of their financial assets in Eltif.

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(Featured image by PIRO4D via Pixabay)

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