Sicit has entered a new chapter with a change in ownership. This marks the conclusion of a process initiated last October by the company, which was founded in Chiampo (Vicenza) and specialises in transforming leather industry waste into biostimulants for crops, gypsum retardants, and fats for biofuels. A new phase of development is now beginning.
The agreement
Sicit has come under the joint control of Renaissance Partners (already a shareholder) and TPG Rise Climate, one of the world’s largest private equity funds focused on climate solutions. This follows the signing of a binding agreement through which the two parties have jointly acquired a controlling stake in the Veneto-based group. What happened? The current shareholders, Renaissance Partners and Intesa Holding, are selling all their shares. Renaissance Partners, through Renaissance Partners Fund IV, will reinvest as part of the new transaction and will enter into a co-control partnership with TPG Rise Climate, the climate investment platform of the US private equity firm TPG (formerly Texas Pacific Group). Alongside these two main shareholders, key co-investors include LGT Capital Partners and Schroders Capital. Intesa Holding will retain a minority stake. Completion of the transaction is expected in the third quarter of 2025.
The reason behind the decision
“Sicit represents TPG Rise Climate’s first investment in the Adaptation & Resilience sector”, noted Joerg Metzner of TPG Rise Climate. He went on to explain the rationale behind the move: “As extreme weather events become more frequent and pressure on crop yields and arable land increases, Sicit’s sustainable biostimulants play a vital role in improving nutrient efficiency and crop quality, while also protecting them from mounting environmental stresses”.
CEO remains in post
Massimo Neresini, who has served as CEO of Sicit since 2006, will remain in his role. He will continue to lead the company, which has recently acquired Patagonia Biotecnologia in Chile and begun construction of a new production facility in Mexico. These two initiatives, along with the early-stage development of a new plant-based product line, are set to drive the company’s next phase of growth.
Growth opportunities
“We believe TPG Rise Climate is the ideal partner to further accelerate Sicit’s growth, leveraging its global network and deep sector expertise”, added Tommaso De Bustis Figarola of Renaissance Partners. In his view, the Veneto-based company has “significant growth opportunities ahead”.
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