Founded in 1976 and headquartered in Pove del Grappa (Vicenza, Veneto) as a company producing traditional wood stoves and fireplaces, Caminetti Montegrappa established itself as a leading Italian manufacturer of pellet-fuelled heating devices, leveraging on product quality and reliability, as well as environmental protection and design.

Alto Capital II sold its entire stake in Caminetti Montegrappa in 2014 to Invicta, a French wood stove manufacturer controlled by General Partner Qualium Investissement, at the time controlled by French Caisse des Dépôts, in the context of a strategic add-on.