Visconti Capital has acquired ELTI, a Rome-based leader in building infrastructure certification with €15m of revenue and a 40% EBITDA margin. Mandatory, recurring inspections in a fragmented market.
We are pleased to see that Search Funds News and other specialised media have highlighted our latest acquisition: the Italian company ELTI, through Visconti Capital, a search fund led by Carlo Luigi Fontana Giusti and Clemente di Napoli Rampolla.
The company
Established in 1997 and headquartered in Rome, ELTI has become a leader in building infrastructure certification, offering a range of services that includes mandatory lift inspections, electrical system verification, certification of charging stations, automatic doors and gates, photovoltaic systems, and water quality testing. Since 2021 it has expanded into the United Kingdom. The company generates close to €15m in annual revenue, with an EBITDA margin of approximately 40% over the past three years.
The thesis
Four characteristics make this business attractive: the recurring and mandatory nature of the service, an extremely widespread customer base across the country, a highly profitable model, and fragmented competition. Together they provide a solid basis for programmatic M&A and the potential emergence of a national leader in this niche.
With this transaction Arada Capital Partners marks the first of what we expect to be several acquisitions in Italy. We congratulate Carlo and Clemente and look forward to working alongside them in this new phase of value creation.