Trime, a portfolio company of Wise Equity and BGG, have acquired FTG Equipment Solutions, a distributor of light towers and generators. No financial terms were disclosed.
Milano, New Castle (DE), 8 September 2021 – Trime, portfolio company of Wise Equity, specialized in the design and manufacture of lighting towers and generators for the construction and events market, and BGG, one of the European leading manufacturers of generators, have jointly acquired 100% of the U.S. company FTG Equipment Solutions.
Based in New Castle (DE), FTG has been for many years the distributor of Trime light towers and Tecnogen generators (brand of BGG Group) that covers the North American market with a wide sales network capable of serving the main local operators in the construction, rental and events market. FTG will reach a turnover of 20 million dollars in 2021.
In line with the strategic plans of the two realities, the objective of Trime and BGG is to accelerate growth in the U.S. market through this joint operation, which will further strengthen their presence and improve the service level offered to its customers. The timing of the transaction seems particularly favourable, being the U.S. construction market in strong recovery with excellent growth outlook also thanks to the Biden infrastructure plan that aims at sustaining the whole sector.
In the medium term, through a path already defined, Trime and BGG will establish their own local branches leveraging FTG’s structure.
Steve Scattolini, managing director of FTG will continue to lead the company in this new phase of development, with the support of Trime and BGG.
Andrea Fontanella and Paolo Tacconi, respectively Chairman and CEO of Trime, said: “We are very happy to have completed this operation that will allow to strengthen the presence of our Group in the North American market as well as the international positioning of the Group: U.S. represent the largest market in the world for lighting towers and, at this stage, is experiencing a deep change with an increasing interest in “green” products, which are already widespread in Europe and where Trime has always played a leading position”.
“This operation has a strong strategic meaning as it allows to strengthen our presence in one of the most important markets in the world increasingly oriented to high quality products. At the same time this deal will enhance the work done in over five years of collaboration with FTG, ensuring continuity of support for our end customer”, said Renato Bruno, CEO of BGG Group.