L&B Partners

What L&B Partners does

L&B Partners is a privately held Italian advisory firm founded in Milan in 2004, structured across two coordinated entities: L&B Partners S.p.A. (financial advisory) and L&B Partners Avvocati Associati STA S.p.A. (legal services). The firm offers integrated legal and financial advice on M&A and Project Finance transactions in the infrastructure sector, with a special focus on renewable energy — spanning wind, photovoltaic/solar, biomass, and hydroelectric assets. Disclosed track record includes over €10 billion of M&A deal value and over €4 billion of Project Finance deal value in the renewables space, with cumulative installed capacity of approximately 4,348 MW across M&A-advised projects and 2,856 MW across PF-advised projects.

The firm serves enterprise clients including industrial operators, utilities, institutional investors, and credit institutions active in the Italian renewable energy market, with additional practices across life sciences & healthcare, real estate, private equity, and venture capital. Service lines span corporate/M&A, banking and finance, administrative law, IP and technology transfer, competition, litigation, insolvency, and tax. GTM is enterprise-field-sales in nature: mandates are exclusive, tailored, and structured per client, with deal origination driven by a dense referral network within the Italian renewable energy ecosystem and reinforced by analyst recognition in The Legal500 EMEA and Chambers Europe.

Business model revenue mechanics are project-based professional services — advisory fees tied to transaction milestones — supplemented by an affiliated investment management arm, L&B Capital SGR S.p.A. (linked to the Banca Ifigest aggregation in 2022), through which the firm can both advise on and participate as principal in renewable-energy transactions. The firm does not employ mass marketing channels; lead generation runs through professional referrals, legal-directory rankings, and editorial coverage in Legalcommunity, FinanceCommunity, and similar Italian professional publications.

Name

L&B Partners

Legal name

L&B Partners S.p.A.

Website

https://lbpartners.it

Company type

Private

Founded year

2004

Operating status

Operating

Headcount range

11–50 employees

Short description

L&B Partners is a Milan-based Italian advisory firm founded in 2004 that delivers integrated legal and financial advisory on M&A and Project Finance transactions, principally to industrial operators, utilities, institutional investors, and credit institutions active in Italian renewable energy and infrastructure.

Ownership category

akta.pro rank

Headquarters

HQ city

Milan

HQ country

Italy

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D

Revenue model

1. Financial Advisory Services: Advisory fees for M&A and Project Finance transactions in the infrastructure sector, with special focus on renewable energy segment. Mandates are exclusive, tailored and structured according to client objectives.
2. Legal Advisory Services: Legal assistance and advisory services in and out of court across multiple areas of law including corporate law, banking & finance, M&A, administrative law, IP, competition, litigation, insolvency, and tax.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

L&B Partners provides integrated legal and financial advisory services to enterprise clients. The Financial Advisory division (L&B Partners S.p.A.) delivers M&A and Project Finance advisory in the infrastructure sector with a special focus on renewable energy (wind, photovoltaic, biomass, hydro). The Legal division (L&B Partners Avvocati Associati) provides legal counsel across corporate law, banking & finance, M&A, administrative law, IP & technology, competition, litigation, tax, and insolvency. Services are delivered as exclusive, tailored mandates structured to each client's specific objectives.

Product overview

L&B Partners is a professional services firm composed of two divisions operating in an integrated manner: L&B Partners SpA (Financial Advisory) provides M&A and project finance advisory services focused on renewable energy and infrastructure, while L&B Partners Avvocati Associati (Legal) delivers legal counsel across corporate/commercial law, banking & finance, administrative law, IP & technology, competition, litigation, tax, and insolvency. The two divisions work synergistically to provide multidisciplinary advisory services to clients in sectors including energy & infrastructure, life sciences & healthcare, real estate, private equity, and venture capital.

Differentiator

Problem solved

Functional benefit

Products and services

• L&B Partners Financial Advisory Financial advisory services division specializing in M&A and Project Finance transactions in the infrastructure sector, with a particular focus on the renewable energy segment (wind, photovoltaic, biomass, hydro). Delivers exclusive, tailored mandates for industrial operators, utilities, institutional investors, and credit institutions.
• L&B Partners Avvocati Associati (Legal Services) Legal assistance and advisory services, both in and out of court, covering multiple areas of law including corporate law, M&A, banking & finance, administrative law, IP & technology, competition law, litigation, tax, and insolvency matters. Delivered to enterprise clients across renewable energy, infrastructure, life sciences & healthcare, private equity, and venture capital sectors.
• M&A Advisory M&A advisory service in the infrastructure sector with a focus on renewable energy. Covers buy-side and sell-side mandates, including due diligence, deal structuring, valuation, and negotiation support for industrial operators, utilities, institutional investors, credit institutions, and private equity funds.
• Project Finance Advisory Project Finance advisory service for infrastructure and renewable energy projects. Includes financial structuring, lender coordination, and advisory to primary Italian banking institutions (UniCredit, Intesa Sanpaolo, UBI Banca, Banco BPM) on renewable energy Project Finance transactions.
• Debt Advisory Debt advisory services including structuring and securing acquisition financing and ancillary facilities for buyers in M&A transactions. Includes mandates such as acting as Debt Advisor of the Buyer in the acquisition of Alimenta by Fondo Italiano D'Investimento.
• Corporate / M&A Legal Practice Legal advisory on corporate law and M&A transactions for industrial groups, Italian and foreign private equity funds, and infrastructure companies. Covers extraordinary transactions, cross-border deals, and corporate reorganizations.
• Banking & Finance Legal Practice Legal advisory on banking and financial transactions, including acquisition finance, real estate finance, ESG finance, and Project Finance documentation. Supports investment funds, banks, and Italian and international companies in financing transactions.
• Administrative Law Legal Practice Legal advisory on administrative and energy law, assisting Italian and foreign companies in development of projects in energy, infrastructure, and regulated sectors. Covers public contracts, project financing, public-private partnerships, urban planning, and environmental litigation.
• Tax Legal Practice Legal advisory on tax aspects of M&A, corporate, and financial transactions handled by the firm. Includes tax due diligence and structuring for acquisitions such as the Vertiv acquisition of Thermokey.
• IP & Technology Transfer Legal Practice Legal advisory on intellectual property protection and technology transfer for innovative companies, venture capital, and research organizations in life sciences, medtech, deep tech, energy, digital technologies, food tech, and agritech sectors.
• Real Estate Legal Practice Legal advisory on real estate matters, including real estate finance and transactions. Newly established department launched in May 2026 led by Partner Carmine Oncia.

Quantifiable outcome

• Over €10 billion in M&A deal value completed (Wind €5,007mln, PV €4,060mln, Biomass €424mln, Hydro €561mln)
• +2 more outcomes

Named customers10 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• KelagcoreStrategic or Co-development Partner · 1 January 2025Swisspower sold a portion of its renewable energy portfolio in Italy and established a partnership with Kelag. L&B Partners advised on the transaction involving 37 operational hydroelectric plants and 3 wind farms totaling approximately 110 MW.

Scale indicators6 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Legance: Italian law firm with strong specialization in energy, infrastructure, and Project Finance. Direct competitor for renewable energy transactions and a comparable boutique-to-mid-market positioning.
• Vitale & Co: Italian boutique independent M&A advisory firm advising mid-market and large-cap transactions. Closest financial-advisory peer to L&B Partners S.p.A. for Italian M&A mandates.
• Eidos Partners: Italian independent financial advisory boutique focused on M&A. Comparable boutique-scale and Italian-market focus for sell-side, buy-side, and special situations mandates.
• Pedersoli Gattai: Boutique Italian law firm with strong corporate M&A practice advising PE funds and corporates. Comparable in size and positioning to L&B Partners for high-end M&A mandates.
• BonelliErede: One of Italy's largest law firms with established energy and corporate M&A practices. Direct competitor for sophisticated Italian M&A and Project Finance mandates in renewable energy and infrastructure.
• Chiomenti: Leading Italian law firm with a top-tier M&A and energy/infrastructure practice. Competes directly with L&B Partners Avvocati Associati for Italian renewable energy M&A mandates, though at significantly larger scale.
• NCTM (Nunziante Magrone): Italian law firm with notable energy and infrastructure practice. Direct peer in renewable energy M&A advisory with comparable Italian market focus and mid-size positioning.
• Gianni & Origoni (GOP): Major Italian law firm with deep energy, infrastructure, and banking & finance practices. Competes for the same Italian renewable energy M&A and Project Finance mandates as L&B.

Broad incumbents

• DLA Piper Italy: Global law firm with significant Italian practice; multiple L&B partners previously worked at DLA Piper. Competes for cross-border M&A and energy mandates but at much broader scale and geographic reach.
• Allen & Overy (now A&O Shearman) Italy: Global Magic Circle firm with established Italian M&A and Project Finance practice. Several L&B alumni previously worked at Allen & Overy; competes for sophisticated Italian and cross-border mandates.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/lb-partners

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about L&B Partners