Renaissance Partners and TPG Rise Climate have signed a binding agreement to jointly acquire a controlling stake in SICIT Group S.p.A.

In the context of the transaction, the current shareholders, Renaissance Partners and Intesa Holding, will sell their entire stakes, with Renaissance Partners – through Renaissance Partners Fund IV – reinvesting in the new transaction.

The new ownership structure will establish a co-control partnership between Renaissance Partners and TPG Rise Climate. Alongside Renaissance Partners and TPG, the major co-investors in this transaction include LGT Capital Partners and Schroders Capital. Intesa Holding will also reinvest in a minority position.

Founded in Chiampo (Vicenza) in 1960, SICIT operates a circular business model that transforms the residues of the leather industry into biostimulants for plants and crops, plaster retardants and fat for biofuel. Its diverse portfolio includes animal-, seaweed-, and plant-based biostimulants. It also produces retardants for the plaster and plasterboard industry, as well as fat used in biofuel production.

Renaissance Partners and TPG will partner to support SICIT in the next phase of growth, leveraging the opportunity arising from the continued market growth and rising demand for sustainable agricultural solutions. Growth will be supported by the upcoming launch of a new production plant in Mexico and the development of an early-stage vegetable and plant-based product line.

Massimo Neresini, CEO of SICIT since 2006, will continue to lead the company through the next phase of growth.

“The entry of TPG Rise Climate and the continued support from Renaissance Partners strengthens our commitment to both the biostimulant sector and sustainable building additives,” said Neresini. “With the acquisition of Patagonia Biotecnologia in Chile and the upcoming launch of our new plant in Mexico, we are perfectly positioned to further expand our presence globally, allowing us to meet the growing demand for sustainable agricultural solutions while improving productivity and crop quality. With the support of our partners, SICIT is ready to further strengthen its leadership in the industry and contribute to a more sustainable future.”

Subject to the satisfaction of customary conditions, the closing of the transaction is expected to occur in Q3 2025.