October 2026
Largest Electrical Parts & Equipment Public Companies in Italy
Benchmark revenue and EBITDA valuation multiples for public comps like
Prysmian, Carel Industries, Cembre, De Nora and IRCE.
 | Prysmian is an Italian manufacturer of energy and telecommunications cables, headquartered in Milan and listed on the Borsa Italiana, where it is part of the FTSE MIB index. Its history dates to 1879 and it became an independent company in 2005, when Pirelli sold its cables business to Goldman Sachs Capital Partners. It makes submarine and underground power transmission cables, cables for wind farms, building and industrial wire, and optical fibre and telecom cables, and it reported revenue of EUR 20.1 billion in 2025. It operates plants across Europe, North America, Latin America, Asia Pacific and the Middle East and Africa. Its growth has come through acquisitions including Draka in 2011, General Cable in 2018, Encore Wire in 2024, Channell in 2025, ACSM in 2026 and Atkore in October 2026. | $123 | +18% | $37B | $42B | 1.9x | 14.9x | ||
| Carel Industries SpA manufactures control systems and humidification for air conditioning and refrigeration. The group provides control solutions for the commercial, industrial, and residential air-conditioning and refrigeration (HVAC/R) markets. Its geographical segments are Europe, the Middle East and Africa, North America, South America, and APAC. The company's industrial applications for the air-conditioning sector are designed for data centers. Its products include programmable controls, room terminals, Isothermal Humidifiers, Sensors and protection devices, Sensors and protection devices, and others. It derives maximum revenue from Europe, the Middle East, and Africa segment. | $30 | +14% | $3.4B | $3.4B | 4.7x | 20.8x | ||
| Cembre is an Italian manufacturer of electrical connectors, cable lugs and installation tools, headquartered in Brescia and founded in 1969 by Carlo Rosani. It designs and makes solutions for the connection and termination of electrical conductors, together with wiring accessories, and sells them through subsidiaries in the United Kingdom, France, Spain, Germany, the United States, the Netherlands and China. The company is listed on Borsa Italiana in the STAR segment under the ticker CMB and is led by chief executive Giovanni Rosani. In the first nine months of 2025 it reported EBITDA of 55.4 million euros, a 30.8 percent margin. In September 2025 it opened a new production area covering 15,000 square metres at its home site. In May 2018 its German subsidiary acquired the Ikuma sales business. | $92 | +25% | $1.5B | $1.6B | 5.7x | 19.1x | ||
| De Nora is an Italian electrochemistry group founded in Milan in 1923 and listed on Euronext Milan. It makes industrial electrodes and coatings used in chlorine production, electronics, swimming pools and mining, and supplies water treatment technologies for disinfection and filtration. The group reported revenues of 875.0 million euros and adjusted EBITDA of 171.8 million euros for 2025. Paolo Dellacha is chief executive and the De Nora family remains the controlling shareholder. It entered the on-site disinfection field with the 2019 purchase of Miox from Johnson Matthey and expanded its water systems business in 2026 with BW Water of Singapore. Snam holds a minority stake bought from Blackstone in 2020 and 2021. Revenue comes from electrode and component sales, water treatment equipment and after-sales services. | $6 | -25% | $1.2B | $1.3B | 1.3x | 7.5x | ||
| IRCE is an Italian multinational group that makes winding wires and insulated electrical cables, with its head office in Imola in the province of Bologna. It was founded in 1947, began producing PVC insulated cables in 1961 and listed its shares on the Italian stock exchange in 1996, moving to the STAR segment in 2011. The winding wires go into electric motors, generators, transformers and relays, while the cables carry power in buildings and supply electrical equipment. The group runs plants in Italy, Brazil and Czechia, and it has grown through acquisitions in the Netherlands, the United Kingdom, Germany, India and Italy. In June 2022 it sold its cable business at Miradolo to Patelec. | $2 | -4% | $63M | $159M | 0.4x | 8.3x | ||
| Braga Moro Sistemi di Energia is an Italian manufacturer of power conversion and backup power systems, including UPS and industrial energy storage, for industrial plants, railways, infrastructure, data centres and defence customers. It was founded in 1946 and works through two business lines, Energy and Electronic boards, the second carried out by its subsidiary Cipierre Elettronica. It listed on Euronext Growth Milan on 31 July 2025 at EUR 4.2 per share. In July 2026 the newco Power Conversion Holding, controlled by the founding family and management, took 97.63 percent through a takeover offer at EUR 6.91 per share and the shares were delisted on 22 July 2026. It reported 2025 revenue of EUR 19.4 million and EBITDA of EUR 3.7 million. | $8 | -- | $20M | $26M | - | - | ||
| Energy is an Italian company that makes battery energy storage systems for residential, commercial, industrial and grid-scale use, together with hybrid inverters, string inverters and electric mobility accessories. It was founded in 2013 by Davide Tinazzi, Andrea Taffurelli and Massimiliano Ghirlanda and describes itself as an Italian leader in storage of energy from renewable sources. The company is listed on Euronext Growth Milan, is headquartered in the province of Padua according to its press releases, and sells through installers and distributors. In May 2024 it agreed to buy 90 percent of Enermore, which gave it a presence in Germany, Austria and Switzerland. | $0 | -85% | $8M | $20M | 0.6x | (78.8x) | ||
| Aton Green Storage is an Italian maker of battery energy storage systems for photovoltaic installations, based in Spilamberto, in the province of Modena. It was founded in 2014 by a team of ten engineers with about twenty years of experience in energy engineering, and sells commercial and industrial systems, all-in-one batteries, inverters and electric vehicle charging products. It listed on AIM Italia on 17 June 2021, raising EUR 10 million at a market capitalisation of EUR 30 million. Revenue rose from EUR 7.2 million in 2020 to EUR 22.8 million in 2021, with EBITDA of EUR 4.7 million. For 2025 the company reported revenue of EUR 5.0 million and negative EBITDA of EUR 9.2 million. Fondo H announced a 15.5% stake in February 2024, and Finaval S.r.l. held 20.29% after a purchase on 13 November 2025. | $1 | -75% | $4M | $30M | 5.4x | (2.5x) | ||
| Median | $7 | -4% | $655M | $730M | 1.9x | 8.3x |
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