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Servizi Italia
M&A Activity • Jul 4, 2024
4419_rpt_2024-07-04_1083e14a-40e5-460a-8418-6287f178ffd5.pdf
M&A Activity
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| Informazione Regolamentata n. 0868-87-2024 |
Data/Ora Inizio Diffusione 4 Luglio 2024 09:46:24 |
Euronext Star Milan | |
|---|---|---|---|
| Societa' | : | SERVIZI ITALIA | |
| Identificativo Informazione Regolamentata |
: | 193041 | |
| Utenza - Referente | : | SERVIZIITAN03 - Giliotti | |
| Tipologia | : | 3.1 | |
| Data/Ora Ricezione | : | 4 Luglio 2024 09:46:24 | |
| Data/Ora Inizio Diffusione | : | 4 Luglio 2024 09:46:23 | |
| Oggetto | : | SERVIZI ITALIA has exercised its option to acquire the last 10% of the share capital of its subsidiary Wash Service S.r.l. |
Testo del comunicato
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SERVIZI ITALIA has exercised its option to acquire the last 10% of the share capital of its subsidiary Wash Service S.r.l., further consolidating its position in the market for laundry services for nursing and retirement homes
Castellina di Soragna (PR), Italy, 4 July 2024
Servizi Italia S.p.A. ("Servizi Italia"), a company listed on the Euronext STAR Milan segment of the Italian Stock Exchange and leader in Italy in the sector of integrated services for the rental, washing and sterilization of textiles and surgical instruments for hospitals, announces to have finalized the purchase -through the exercise of the call option due to Servizi Italia - of the remaining 10.0% of the share capital of Wash Service S.r.l. ("Wash Service" or the "Company"), an operator mainly active in northern Italy in the offer of washing and rental services of flat linen, guest linen and garments for the operating personnel of health-hospital facilities, nursing homes, assisted-living facilities and retirement homes, coming to hold 100.0% of Company's share capital.
The transaction follows on from what was disclosed to the market on 28 January 2019 and 27 February 2019 in relation to Servizi Italia's acquisition of 90% of Wash Service's share capital, in the context of which an option agreement had also been concluded to allow Servizi Italia to come to hold 100% of Wash Service's share capital, and it is realized with the same strategic and operational purposes that led to the acquisition of control of the Company.
The consideration for 10.0% of Wash Service's share capital amounted to Euro 0.39 million. The determination of the price was based on the contractual valuation envisaged for the purchase of the first 90%, corroborated by a comparison with the audited 2023 results and Company's net financial position at the date in which the call option has been exercised.
From 2019 to 2023, Wash Service shew a CAGR of 6.2%, recording revenues equal to Euro 9.79 million, an EBITDA of Euro 1.07 million, a net profit of Euro 0.06 million, and a net financial debt as at 31 December 2023 of Euro 1.78 million.
The purchase of the Company will be financed through bank debt and part of the price is also paid as consideration for the non-competition agreement signed by the sellers.
It should be noted that the operation:
- did not require a prior communication to the AGCM (Italian Communications Regulatory Authority) in accordance with the provisions of Article 16, paragraph 1 of Law 287/90 by Article 5-bis of Decree-Law 1/2012 converted, with amendments, by Law no. 27 of 24 March 2012 containing "Urgent provisions for competition, infrastructure development and competitiveness";
- with reference to the provisions of Article 71 of Consob Regulation n. 11971/99 and following amendments ("Issuers' Regulation"), results as "not significant" taking into account the parameters provided for by the applicable regulations, being understood that the Company adhered to the opt-out regime provided for in Articles 70, paragraph 8, and 71, paragraph 1-bis, of the Issuers' Regulation;
- does not present any particular current or potential risk of conflict of interest with the parties involved and has no significant effect on the safeguarding of Company's assets or on the completeness and accuracy of information, including accounting information, relating to Servizi Italia.
This press release is disclosed using emarket SDIR system and it is now available on Company's website (ir.servizitaliagroup.com) as well as on eMarket STORAGE system ().
Servizi Italia S.p.A., a company based in Castellina di Soragna (PR) and listed on the Euronext STAR Milan, has been a leader in Italy in the field of integrated rental, washing and sterilization services for textile materials and medical devices in the healthcare sector for over thirty years. The company, which together with its Italian and foreign subsidiaries forms the Servizi Italia Group, has also expanded its services to the industrial, community and hotel sectors. The Group has a highly technological production platform, articulated in over 50 production plants in 6 countries and counts about 3,600 employees and collaborators: these are the numbers with which Servizi Italia contributes daily to the health and safety of professionals, patients and workers, respecting ethics and the environment in which it operates.
For further information: Investor Relations Media Relations Servizi Italia Axelcomm S.r.l. Pietro Giliotti Arturo Salerni Tel: +39 0524598511 Tel. + 39 338 5220260 [email protected] [email protected]