Alantra advises Ethica Global Investments and WeBlade’s shareholders on the sale of WeBlade to IGI Private Equity

Jul 2026

Sell-side advisory

Milan – Alantra has acted as joint financial advisor, alongside Ethica Group’s M&A Advisory team, to Ethica Global Investments and the other shareholders of WeBlade, a leading European manufacturer of compressor and turbine blades for the power generation industry, on the sale of a majority stake in the company to IGI Private Equity.

IGI is investing through the IGI Sustainable Transition Fund, with LGT Capital Partners, Crédit Agricole Italia through Amundi Private Equity Italia, and BNP Paribas BNL Equity Investments participating as co-investors. WeBlade’s management team reinvested alongside IGI and will continue to lead the group.

Formed through the integration of DOM S.r.l. and C-Blade S.p.A., WeBlade combines forging, precision machining and finishing capabilities for gas and steam turbine blades. The group supplies leading OEMs and aftermarket service providers worldwide and operates in a high-barrier segment where engineering know-how, certifications and proprietary tooling are key differentiators. In 2025, WeBlade generated c.€41mn of revenue and more than €10mn of EBITDA, with c.185 employees across three owned production sites in Northern Italy.

The transaction supports WeBlade’s next phase of growth as a supplier of outsourced turbine blades, with a focus on further industrial integration, OEM relationships, aftermarket expansion, forging capacity and international growth, including in the U.S.

Stefano Bellavita, Executive Chairman & Managing Partner at Alantra Italy, said: “WeBlade is a high-barrier industrial platform serving a critical segment of the power generation supply chain. We supported the shareholders throughout the transaction, combining power generation sector expertise with coordinated execution across our Italian and U.S. teams.”

Wade Aust, Managing Partner and Chairman of Alantra US, said: “WeBlade is well positioned to benefit from increasing demand for qualified outsourced turbine blade capacity, supported by its integrated forging and machining capabilities and relationships across OEM and aftermarket channels, and strong potential to expand its international footprint, particularly in the U.S. market.”

This transaction further strengthens Alantra’s power generation and rotating equipment track record, including advising Allied Power Group on the acquisition of EthosEnergy’s Generator division assets, advising Mangrove Equity Partners on the sale of PowerParts Group to JLL Partners and advising TOPS Field Services on its sale to Capstreet, as well as Alantra’s relationship with European private equity clients in Italy, following its recent advisory role to Argos on the acquisition of STAR7.