07 Aug 2018
Convert Italia S.p.A., an Italian company active in the design, engineering, production, and sale of single-axis trackers for photovoltaic systems, sold 75% of its share capital to the American listed group Valmont Industries Inc. (NYSE:VMI).
Established in 1981, Convert has refined its market approach over the years, producing UPS and complex power systems for the telecommunication industry before shifting focus onto renewable energy, but company culture has always been based on innovative and reliable technology in installations, design and components. Convert Italia is headquartered in Italy with offices in Rome and a production plant in Pomezia. Since 2017 the company has had a subsidiary in Brazil that assembles and distributes products and this year it opened a company in Argentina. Convert Italia is the fourth largest single-axis-tracker producer worldwide and the first in Europe and South America.
Valmont is a leading global provider of engineered products and services for infrastructure development and irrigation equipment and services for agriculture. The acquisiton of Convert allows Valmont to provide an integrated solar tracker solution to utility-scale customers around the world.
Clairfield International acted as exclusive financial advisor to Convert Italia S.p.A.