Treviso, August 5th 2024 - Headquartered near Milan, Trime, a multinational group that produces technologically advanced lighting towers and generators with low environmental impact and generates revenues of 115 million euros, has invested in a majority stake in PR Power Ltd.

PR Power was founded in 2008 as a partnership by John De Ray and Craig Parker to serve the Australian market with high-quality lighting towers and generators. The company has a turnover of 25 million euros across three sites and employs 40 people. It serves as a key partner for operators in the Australian mining and infrastructure sectors. The agreement provides that the founders will remain shareholders and will lead the development of the group in the larger APAC region.

The investment is part of the internationalization strategy of the group, which already generates over 90% of revenues abroad and intends to further strengthen its direct presence in markets that are strategic for its future development. In this context, this operation represents a key investment to foster and make the most out of the growth potential of the Australian market which, together with the US market, are some of the main geographies for Trime.

21 Invest, a European investment group founded by Alessandro Benetton, has supported the entrepreneur Andrea Fontanella and the management team’s vision for Trime and the managerialization process since its entry in November 2022. This is particularly important given the group’s growth in recent years, with revenues growing from 81 million in 2021 to 115 million in 2023 and employees increasing from 220 in 2021 to 300 in 2023.

“Trime is a further example of an Italian company in 21 Invest’s portfolio that, thanks to its dynamism and technological innovation, is growing all over the world and especially thanks to an extremely attractive product powered by renewable energy” commented Alessandro Benetton, Chairman and Founder of 21 Invest “We will continue to support a group that is distinguished for its innovation, excellent capabilities, credibility, and ability to stand out in the international arena”.

“We are enthusiastic to see PR Power joining the Trime group to continue a growing path started together years ago and that has brought all of us great satisfaction”, added Andrea Fontanella, Chairman of Trim e “The partnership with John De Ray and Craig Parker aims to develop together new and ambitious projects in the APAC region to further strengthen the leadership of both companies”.

“We are very pleased to join the Trime Group and look forward to growing our business together throughout the APEC region and continue our long standing and valued relationship”, added John De Ray e Craig Parker, Founders of PR Power.

Trime has been assisted by Hogan Lovells for legal and corporate aspects and by KPMG for financial and tax Due Diligence.

PR Power has been assisted by Palisade Corporate for legal and corporate aspects.