AMBIENTA takes majority stake in P.I.ECO

Ambienta acquired a majority stake in P.I.ECO, the Italian industrial water treatment and recycling specialist, in a transaction completed in March 2026, the first investment of the Ambienta Small Cap Fund. The founding Medolago family sold control while keeping a stake and committing to support the company’s development abroad. At the time of the deal, P.I.ECO generated annual sales of €5–25M, more than 80% of them outside Italy. Ambienta based its investment on the company’s technology and its international customer base. P.I.ECO’s mechanical ultrafiltration process recovers up to 85% of the water it treats, against roughly 40% for conventional systems built mainly on chemical treatment, and its membrane design keeps that performance stable across complex industrial effluents. The fund pointed to the place of water treatment and reuse in the wider environmental transition: less than 2% of global water withdrawals are currently recycled, and tighter rules on discharge and reuse are expected to accelerate the adoption of advanced treatment technologies.