Trime to be acquired by investment firm

By Leila Steed18 November 2022

Italian lighting tower and generator specialist Trime, which operates subsidiaries in the UK, the Netherlands and the United States, is to be acquired by European investment group 21 Invest.

Trime X-SOLAR lighting unit New majority shareholder aims to enable Trime to further invest in environmentally friendly innovations, so it can expand its offering of models like the X-Solar lighting tower, pictured above. (Photo: Trime)

21 Invest has agreed to buy a majority share in Trime, having signed a binding contract - for an undisclosed amount - with the manufacturer’s current shareholder, private equity firm Wise Equity.

Commenting on the deal, Trime’s CEO Paolo Tacconi - who will retain his position along with the rest of the company’s management team, said, “This deal allows us to plan our long-term growth and support the investments necessary to execute the development project of Trime.

“In addition, it will enable us to renew and strengthen the group’s organization and production and to reach our goals, including our ESG plan.”

Since 2019 Trime has worked collaboratively with Wise Equity - which primarily operates by co-investing in businesses where the existing management team and stakeholders also re-invest - to drive growth through operational developments and acquisitions.

A vertically integrated company, Trime carries out all of its equipment design, production, mechanical and electrical assembly, and final testing in-house.

It currently employs around 200 people and is expecting to reach €90 million in consolidated sales by the end of 2022.

Illumin8 Fleet. Trime provides a range of lighting towers for rental companies across Europe, including Boels Rental, Gap and Illumin8. (Photo: Trime)

21 Invest said that following the acquisition it will bring “its competencies and strategic approach” to Trime, to support the founder and management team’s entrepreneurial tradition. 

Alessandro Benetton, Chairman and Founder of 21 Invest, said, “Backing an entrepreneur and a management team of a company that over the years has shown high potential is the basis of our investment strategy.

“We want to continue to support Italian excellence by investing in highly innovative companies that are attentive to both environmental and social sustainability.”

According to the investment firm, this will “allow Trime to affirm its leadership position”, and to continue to invest in technology and innovation.

Currently 40% of Trime’s turnover comes from its hybrid, electric and solar powered products - for which demand is rapidly increasing.

A Trime x-hybrid lighting tower A Trime x-hybrid lighting tower. (Image: Trime)

21 Invest said, “Strong growth trends for the lighting tower market are expected thanks to the growing attention to worker safety in construction sites, which is improved thanks to proper lighting, and the replacement of traditional lighting towers powered with diesel with “green” ones which, in addition to reducing CO2 emissions and noise pollution, are more efficient.”

It added, “The ambitious long term growth strategy includes a significant increase in turnover thanks to international expansion, particularly in the American and Australian markets and will be aimed at creating a global leader in its industry.”

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