Metrika II Acquires Majority Stake in Proteg to Accelerate Circular-Economy Growth

Metrika II Fund has completed the acquisition of a majority stake in Proteg SpA, an Italian circular-economy champion based in Campania. Led by the third and fourth generations of the founding family alongside CEO Salvatore Papa, Proteg specializes in collecting and processing animal by-products and used oils into high-value raw materials. The company transforms these organic residues into processed animal proteins, rendered fats, organic fertilizers, and renewable fuels for the pet food, oleochemical, and energy sectors. Recording annual revenues of around €30 million, Proteg operates with advanced technological processes and maintains ISO 9001 and ISO 14001 certifications. Metrika II’s investment will support the company’s next phase of development by expanding production capacity and scaling up automation. Additionally, the partnership aims to pursue a targeted buy-and-build M&A strategy in adjacent waste-valorization segments. The collaboration will further strengthen Proteg’s positioning in high-value markets like its proprietary pet food brand, Promis. Ultimately, this strategic backing will formalize structured ESG KPI monitoring and advance a comprehensive decarbonization roadmap aligned with European sustainability objectives.

Advisors to Metrika II (The Buyer)

  • Legal Advisors: Giliberti Triscornia e Associati (Team: Matteo Acerbi, Chiara Gaudio, Giorgia De Pin, and Luca Maugeri)
  • Tax and Accounting Advisors: EY
    • Tax Team: Roberto De Bernardinis, Gianmarco Metrangolo, Vincenzo Savinelli, and Vincenzo Casillo
    • Accounting Team: Andrea Di Bella, Enrico Silva, Daniele Chiara, and Clara Bellio
  • Commercial Due Diligence: OC&C Strategy Consultants (Team: Riccardo Cremona, Alberto Regazzo, Luca Bettale, Andrea Montanaro, Federico Buzzi, and Edoardo Jenna)
  • Environmental and ESG Advisors: ERM (Team: Andrea Perna, Simona Azzini, Luca Ferioli, and Andrea Ucar)
  • Insurance Advisors: Aon (Team: Francesco de Siena, Marcello Mura, and Ludovica Belluz)

Advisors to the Papa Family / Proteg (The Sellers)

  • Legal Advisors: LAWAL (Team coordinated by Piergiorgio Mancone, with Luca Gobbi, Emanuele Francesco Rizzuti, and Marco Baio)
  • Financial Advisors: Sergio Lucci and Studio Lucci-Lucci Dea Srl
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