Three Hills Capital Partners (THCP), an investment house providing flexible capital solutions to successful entrepreneurs and management teams in the European mid-market, has invested in Gorent, an Italian specialist in the rental of eco-sustainable vehicles for urban sanitation, via Three Hills Capital Solutions III (THCS III).
THCS III has committed cEUR50 million to support further organic growth of the business as well as the buyout of certain minority shareholders. The transaction, which is expected to complete in March 2022, represents the third investment in Italy for THCS III and the last investment out of the Fund’s portfolio of ten assets.
Established in 2002, Gorent specialises in the short and long term rental of urban sanitation and waste management vehicles, partnering with the key public and private operators in the industry.
The investment will be structured with a preferred capital instrument; as part of the transaction THCP will also own a 29 per cent equity stake in the business. The growth capital provided by THCP will enable Gorent to further invest in its infrastructure and expand its footprint internationally, with a portion reserved for the buyout of minority shareholders.
