goetzpartners advised 4D Global Energy Investments plc

goetzpartners advised 4D Global Energy Investments plc on the sale of Rosehope Limited

goetzpartners represented 4D Global Energy Investments plc ("4D Global Energy"), a Dublin based investment fund specialized in the energy sector, on the sale of Rosehope Limited (“Rosehope”), an Irish holding company owning the specialty gases businesses Settala Gas S.p.A. and Synthesis Chimica S.r.l. and participations in gas engineering company Tecnogas S.r.l. and a controlling interest in heating, ventilation and air condition (HVAC) business Systema S.p.A.

The sale of Rosehope marks the conclusion of 4D Global Energy’s investment starting with the investment in Lampogas in January 2013, a group with over 50 subsidiaries in varying stages of acute financial difficulty. Following continuous restructuring and growth-focused management, the original core-business of liquid petroleum gas (LPG) distribution was sold in January 2019. goetzpartners was then engaged as M&A advisor to 4D Global Energy to assist in the divestment of the remaining Lampogas assets.

In 2021, goetzpartners advised 4D Global Energy on the sale of Dulevo to the Fayat Group, creating the pre-eminent manufacturer of road-sweeper trucks worldwide. With assistance of goetzpartners as M&A adviser the remaining subsidiaries (Settala Gas, Synthesis Chimica, Tecnogas and Systema) have now been sold via a management buy-out of the parent holding entity, Rosehope Limited to the newly founded Rosehope Italia S.r.l., wholly-owned by the Group’s Chairman and CEO, Tighe Noonan. The total cash consideration received by 4D Global Energy over the course of this investment has resulted in a money multiple of 7.5x to 4D Global Energy investors in US$ terms (9.0x Euro-on-Euro).

goetzpartners acted as exclusive M&A advisor to 4D Global Energy, further underlining our competence as advisor of choice in the energy sector.

ABOUT 4D GLOBAL ENERGY
4D Global Energy Investments plc is a Dublin-based investment fund that specialises in the energy sector. A series of private equity funds were established under the 4D Global Energy umbrella from 2002, investing in the hydrocarbon value chain, assisting portfolio companies in the implementation of their financial strategies. In particular they were dedicated to bringing development capital to underpin the growth of small to medium-sized companies active in the hydrocarbons value chain.

ABOUT ROSEHOPE
Rosehope is an Dublin-based holding company consisting of a chemicals division involved in the processing of LPG into specialty chemical gases for refrigeration and aerosols (Settala Gas S.p.A. and Synthesis Chimica S.r.l.), a gas engineering division, active in the design, implementation and maintenance of LPG plants, filling stations and storage depots (Tecnogas S.r.l.) and a climate engineering division with focus on designing and manufacturing industrial heating and air conditioning systems (Systema S.p.A.). Rosehope, formerly known as Lampogas, was a diversified industrial group also consisting of Lampogas, a 60-year old market leader in liquid petroleum gas (LPG) sales and distribution in northern and central Italy which was sold to Autogas Nord in January 2019 and Dulevo, a top manufacturer of high-performance road sweepers with a premium brand and global presence which was sold to the Fayat Group in May 2021.

ABOUT GOETZPARTNERS
goetzpartners is an independent advisory firm for all key issues of entrepreneurial activity: Strategy, M&A, Transformation. With 250 professionals operating out of 12 offices in 9 countries, we advise clients worldwide in all key industries. Based on this in-depth sector and product expertise goetzpartners has been successfully executing more than 200 M&A transactions and numerous national and international consultancy engagements over the past 10 years. Our product portfolio combines the three major services investors need during transaction processes: M&A, Commercial Due Diligence and Debt Advisory.

Deal team:

Dr. Jan-Hendrik Röver
Managing Director
Email

Matthias Volk
Director

Jannik Alt
Associate