Pioneer Point pitches in to Italian recycling

The UK-based lower mid-market firm will invest up to €50m in Masotina, marking its second acquisition since August 2010.

Pioneer Point Partners has acquired Italian waste and recycling company Masotina. Terms of the transaction were not disclosed but Pioneer Point has committed up to €50 million for Masotina, Pioneer partner Giuseppe Curatolo said.

Masotina generates annual revenues of €43 million.

Pioneer Point is a private equity firm focused on growth investments in the European lower mid-market, focusing on the energy, environment, telecom, media and technology sectors. Founded in 2008, the London-based lower mid-market investor employs a private capital model, implementing its own capital as well as that of a number of family offices and institutions at a rate of about two deals per year.

In August, Pioneer Point completed its first acquisition with Peak Gen Power, a UK-based power plant construction company. Pioneer has committed significant capital to enable Peak Gen to build a portfolio of 200-300MW in the next three to five years.

So far this year, Pioneer Point has added two investment professionals, Edoardo Luciani from LEK Consulting and Cyril Gautier from Société Général. A third investment professional, Jens Duing, left Fidelity Equity Partners in 2010 to join Pioneer.