In March 2026, ValeCap acted as exclusive financial advisor to IDEX (the "Company"), a leading French provider of local low-carbon energy solutions, in connection with the strategic partnership with CO-VER Power Technology, aimed at supporting IDEX’s entry into the Italian market and accelerating the deployment of low-carbon energy infrastructure for industrial clients in Italy.
The partnership will allow IDEX to leverage CO-VER’s Italian platform to export its “financed decarbonisation” model, providing manufacturers with low-carbon energy solutions designed to reduce their carbon footprint and stabilise energy costs without requiring upfront investment from clients. The transaction targets Italy’s industrial heat market, the second largest in Europe, whose decarbonisation investment potential is expected to double by 2030, reaching approximately €1 billion per year.
The partnership is structured around three strategic pillars: the transformation of existing cogeneration facilities through renewable natural gas, biomass and industrial waste heat recovery; the decarbonisation of new industrial facilities through turnkey solutions for steam, heat, cooling and low-carbon electricity; and the development of regional district heating and cooling networks.
Founded in 1963, IDEX develops, designs, finances, builds and operates local low-carbon energy infrastructure across heat and electricity, serving buildings, cities and industrial clients. In 2025, the group generated €2.1 billion of revenues and mobilised €360 million to finance low-carbon energy infrastructure in France. CO-VER, founded in 2006 and based in Verbania, is active in the design, construction and operation of energy efficiency infrastructure, with a portfolio including cogeneration, trigeneration and photovoltaics.
The deal strengthens ValeCap's track record in energy efficiency and energy transition infrastructure, demonstrating partners' trust in its economic and financial valuation, due diligence, and negotiation capabilities.