L&B Capital

Investments with focus in the renewable energy and energy efficiency sectors

L&B Capital S.p.A. is an investment company set up in 2011, designed and promoted by L&B Partners S.p.A. and L&B Partners Avvocati Associati STP a r.l., focusing on renewable energy and energy efficiency sectors.

The most significant investments of L&B Capital have been the followings:

  • Evolvere S.p.A.: Energy Service Company, leader in Italy in the field of energy efficiency and distributed generation, with a portfolio composed by roughly 10.000 customers (as well as power plants under management) and a total installed capacity higher than 55,0 MW (of which roughly 40,0 MW is direct ownership). As of today, Evolvere S.p.A. present an amount of net assets of approximately € 38 Mln and an headcount of 80 employees.
    Consolidated revenues of the Group in 2018 totalled € 32 Mln with an EBITDA of approximately € 12,5 Mln. Evolvere S.p.A. is continuously investing in new technologies (i.e. storage, Internet of Things, analytics, blockchain, …) in order to promote to the market an offer with innovative services with high added value in the smart grid and smart home sectors (for example P2P energy and grid services, domotics).

  • Esapro S.r.l.: is one of the largest Italian Independent Service Provider in the PV sector (also through its subsidiaries Esapro Control S.r.l. and Esapro RO) with more than 20 years of experience in monitoring, operation, maintenance, plant optimization, revamping, technical and commercial management, security and 24/7 surveillance of renewable energy power plants such as hydro and small wind but with a unique and strong expertise in mid-large scale PV plants in Italy and Romania. Esapro currently manages for its clients a number of plants, mainly PV, with a total installed capacity of 630MW.
    Esapro has developed a proprietary monitoring software (“Renforce”), as well as other innovative services, such as “Solar Eye”, a latest generation fault detection system through the usage of drones and “Solar Bug”, an analysis tool based on a proprietary algorithm. Group revenues amount to approximately € 10 Mln with a double-digit EBITDA margin.
  • Alba S.p.A.: holding originally listed on the Telematics Market of the Investment Vehicles (MIV), organized and managed by Borsa Italiana. The company, delisted in 2017, holds participations in industrial companies, among which Helio Capital S.r.l., owning a portfolio of ground-mounted PV plants of total 10 MW located in Puglia.

  • United S.p.A.: Group active in providing services for the real estate industry and for the urban security through its subsidiaries United Risk Management S.p.A., United Consulting S.r.l., U.Lab S.r.l., and Pasa Labs S.r.l.. The Group provides services and consultancy at every stage of its implementation: from conception to planning, from the site’s risk analysis to its management, from remote monitoring to on-site supervision, from the environmental regulation compliance control to realized safety management. Group revenues amount to approximately € 7 Mln.

  • GI.MEL S.p.A.: with an experience of more than 40 years manufactures and distributes children's clothing and accessories worldwide (from 0 to 16 years age), collaborating with the most important fashion brands. The production is carried by almost 70 productive partners from more than 40 different countries, which guarantee a production capacity of more than 500.000 clothes yearly. The company is the exclusive licensee for the production and worldwide distribution of prestigious trademarks such as “Elisabetta Franchi”, “Dond Up”, “Phylosophy”, ‘’Berwick’’ and ‘’Le Petit Coco’’ as well as exclusivist producer for the children’s clothing for “Roberto Cavalli”. Group revenues amount to approximately € 21 Mln.


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  • L&B Group: company headed by Di Terlizzi family (partners and founders of L&B Partners S.p.A. and L&B Partners Avvocati Associati STP a r.l.).

  • DEMI5 S.r.l.: holding headed by de Miranda family; the main asset held is the 50% of Ori Martin, a group specialized in the production special steels for automotive and mechanical engineering, with a turnover of roughly Euro 500 Mln.

  • Michele Cappone: CEO of L&B Capital.

Our investments

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What people say about us?

"The strong entrepreneurial spirit, accompanied by an excellent professionalism, a wide knowledge of the reference sector and an unexceptionable ethical approach, make it an ideal partner".

What people say about us?

"The speed and the lucidity that characterizes its decision making approach allow to seize the best opportunities offered by the market".