Ambienta SGR, the largest European private equity fund (over 450 million euros in assets under management) has acquired 100 percent of the shares of IP Cleaning SpA, a leading manufacturer of cleaning machines and accessories in the professional cleaning market headquartered in Italy.
IP Cleaning is the parent company of IPC Euromop, IPC Gansow, IPC Portotecnica, IPC Pulex, IPC Ready System and IPC Soteco.
IP Cleaning ranks third on the European cleaning market. The company manufactures its products at six plants in Northern Italy and has approximately 1,000 employees.
IP Cleaning is a global organization with approximately 90 percent of its turnover generated outside Italy, including a sizable proportion outside Europe.
Ambienta is investing just over 50 million euros to, in a first step, finance the modernization and restructuring of IP Cleaning. The plan is to further grow the existing sustainability-geared products of IP Cleaning through investments in R&D.
Frederico De Angelis, who has an outstanding track record of turnarounds and success strategies in large enterprises, is the company‘s new Chairman and CEO. The business plan is focused on investing in product development, further integration of existing business streams, developing key accounts and expanding the -company’s geographic reach.