The Autogas Group and Rosehope Limited said they had signed an agreement for the Autogas Group, a leading LPG player for 60 years and one of today’s most dynamic multiutilities with a complete energy offer, to purchase Lampogas S.r.l. (a company that distributes and sells LPG across northern and central Italy). Subject to the approval of the authorities, the acquisition will be completed by the end of the year.
The transaction was possible in part thanks to the role played by Italmobiliare, which is to subscribe a reserved share capital increase at Autogas Nord for approximately 60 million euro, to be used to fund the acquisition of Lampogas. With this investment, Italmobiliare will hold around 27% of the new group, which, by combining the operations of the two brands, will achieve aggregate revenues of approximately 500 million euro.
With its acquisition of Lampogas S.r.l., the Autogas Group intends to achieve a significant strengthening of its operations in the Italian LPG sector and to sustain a rapid expansion of the Group's complete energy offer.
In the last few years, the Autogas Group has been transforming itself into a multiutility with an energy offer comprising, in addition to LPG for combustion and automotive – its traditional sector of origin – AGNLuce – with a range of offers for the electric power sector, AGNGas – for the natural gas/methane sector, AGNE² – for all energy-saving and efficiency solutions including AGNSolar – a perfect synergy of light and photovoltaic, and AGNeDRIVE for electric mobility.
“We are delighted with this transaction carried out with Italmobiliare,” said Umberto Risso, Chairman of the Autogas Group. “It comes at the end of an extremely important year for our Group, which has seen the acquisitions of the LPG businesses of Alfa Gas S.r.l. and Italgas Propano as well as GPL Alessandria (ex Restiani) and GPL Tirreno (ex Giove Gas s.r.l.). The acquisition of Lampo Gas S.r.l. will also enable us to strengthen our territorial presence, to position ourselves as a reference player on the Italian LPG market and to expand the Autogas Group as a multiutility in the energy industry, developing a growing range of innovative services to meet the new requirements emerging on the market.”
“With this new investment, the fourth in the last 12 months, Italmobiliare confirms its focus on Italian mid-caps of excellence that are growing their businesses,” commented Italmobiliare CEO Carlo Pesenti. “Joining the Autogas Group in the strategic acquisition of Lampogas means sustaining and giving further impetus to one of Italy’s leading LPG distributors. Through investments totaling more than 300 million euro in the last year, we 2 have proved ourselves to be a partner with a medium-long term vision, able to act not only on the financial front but also to offer operating support and business knowhow during phases of growth.