Italian Refrigeration Firm Epta Seeks Banks for IPO

(Bloomberg) --

Italy’s Epta SpA is looking to hire investment banks for a Milan initial public offering, newspaper Il Sole 24 Ore reported.

The refrigeration system company has already appointed Rothschild as adviser on a deal and it’s aiming to go public next year, Sole said, citing people familiar with the matter. 

“Epta has been considering an IPO for a few years,” Marco Nocivelli, chief executive officer of the group, said in emailed comments. “The timing will depend on shareholders when market conditions are right.”

Epta, which owns brands including Costan and Iarp, employs almost 6,000 people and has 11 production sites in Europe, Asia and the Americas, according to its website. The company, which is controlled by the Nocivelli family, recorded revenue of 908 million euros ($1.05 billion) in 2020, Sole said. 

A representative for Rothschild declined to comment on the report.

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