Convert Italia SpA, 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 Italia has modulated during the years its market approach, starting from UPS and complex Power Systems for the telecommunication industry to the Renewable Energy, but its company culture has been always based on research, to provide innovative technological and reliable solutions, regarding installations, design and components. Currently the company designs, produces and sells single axis trackers for photovoltaic systems. Convert Italia is headquartered in Italy with offices in Rome and a production plant in Pomezia and, since 2017, has been in Brazil with a subsidiary company that assemblies and distributes the products; in addition, from this year, it has opened a company in Argentina. Convert Italia is the fourth single axis trackers producer worldwide and the first in Europe and South America.

The Group Valmont Industries, with headquarters in Omaha (Nebraska, USA), is listed at NYSE and has a market capitalization of more than USD 3 billion. The Group is present in 23 countries in the world with over 80 production plants and more than 10,000 employees. The Group is active in four primary business segments: (i) Engineered Support Structures (ESS) – steel poles, towers and components for global lighting, traffic and wireless communication markets, engineered access systems and highway safety products; (ii) Utility Support Structures (USS) – manufacturing of steel and concrete pole structures for global utility transmission, substation and distribution applications, wind and offshore structures and inspection services, (iii) Coatings – galvanizing, painting and anodizing services (iv) Irrigation – manufacturing of irrigation equipment, parts, services and tubular products, water management solutions and technology for precision agriculture. In 2017 Valmont has achieved revenues of about USD 3 billion.

K Finance (Clairfield Italy) acted as financial advisor to Convert Italia, Nctm as legal advisors and Pirola Pennuto Zei & Associati as fiscal advisor.
Dentons acted as legal advisor to Valmont, while BDO acted as fiscal advisor.