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Dominion Hosting Holding (DHH)
M&A Activity • Sep 28, 2023
4193_tar_2023-09-28_35f82ed4-8ac5-4008-9712-2a3bcbaed30e.pdf
M&A Activity
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| Informazione Regolamentata n. 20088-12-2023 |
Data/Ora Inizio Diffusione 28 Settembre 2023 15:00:08 |
Euronext Growth Milan | |
|---|---|---|---|
| Societa' | DHH | ||
| ldentificativo Informazione Regolamentata |
181577 | ||
| Nome utilizzatore | DOMINIONN02 - Giandomenico Sica | ||
| Tipologia | 3.1 | ||
| Data/Ora Ricezione | 28 Settembre 2023 14:50:05 | ||
| Data/Ora Inizio Diffusione |
28 Settembre 2023 15:00:08 | ||
| Oggetto | · DHH successfully finalizes acquisition of minority stakes in Connesi |
||
| Testo del comunicato |
Milan, 28 September 2023. DHH S.p.A. ("DHH" or the "Company") (DHH.MI | WDHH21.MI) (ISIN shares IT0005203622) announces to have completed today the acquisition of the minority stakes in Connesi SpA ("Connesi").
The first step of the transaction was completed with the purchase of the first stake of 69,15% of the share capital of Connesi, as detailed in the press release of 28 July 2022.
The second step of the transaction – the purchase of the remaining stake of 18,35% of the share capital of Connesi from Raffaele Casali, Inarco Ammenti, Manuela Salvi, and Fabbrica Multimediale Srl – was completed today in advance of the expected time (90 days from the approval of the financial statements for the year 2025). Connesi also owns 12,50% of treasury shares.
The purchase price of the minority stakes in Connesi – approximately 2,8M EUR – was paid entirely in cash through the credit line serving acquisitions active with Intesa Sanpaolo SpA.
DHH successfully finalizes acquisition of minority stakes in Connesi
Milan, 28 September 2023. DHH S.p.A. ("DHH" or the "Company") (DHH.MI | WDHH21.MI) (ISIN shares IT0005203622) announces to have completed today the acquisition of the minority stakes in Connesi SpA ("Connesi").
The first step of the transaction was completed with the purchase of the first stake of 69,15% of the share capital of Connesi, as detailed in the press release of 28 July 2022.
The second step of the transaction – the purchase of the remaining stake of 18,35% of the share capital of Connesi from Raffaele Casali, Inarco Ammenti, Manuela Salvi, and Fabbrica Multimediale Srl – was completed today in advance of the expected time (90 days from the approval of the financial statements for the year 2025). Connesi also owns 12,50% of treasury shares.
| Percentage | No. of Shares | Percentage | No. of Shares | ||
|---|---|---|---|---|---|
| DHH SpA | 69,15% | 207.450 | DHH SpA | 87,50% | 262.500 |
| Treasury shares | 12,50% | 37.500 | Treasury shares | 12,50% | 37.500 |
| Fabbrica Multimediale Srl | 10,60% | 31.800 | Total | 100,00% | 300.000 |
| Raffaele Casali | 5,00% | 15.000 | |||
| Inarco Ammenti | 2,00% | 6.000 | |||
| Manuela Salvi | 0,75% | 2.250 | |||
| Total | 100,00% | 300.000 |
Shareholder structure before 28/9/23 Shareholder structure after 28/9/23
| Percentage | No. of Shares | Percentage | No. of Shares |
|---|---|---|---|
The purchase price of the minority stakes in Connesi – approximately 2,8M EUR – was paid entirely in cash through the credit line serving acquisitions active with Intesa Sanpaolo SpA.
Giandomenico Sica, Chairman of the Board of Directors of DHH, commented: "In concordance with our fellow shareholders of Connesi, we chose to expedite the conclusion of the earn-out process. The company has demonstrated remarkable performance in this initial year of partnership. In 2022, Connesi posted a turnover of 7M EUR (+27% YoY) and an EBITDA of 1,7M EUR (+57% YoY). Furthermore, in the first half of 2023, it has experienced a 14% increase in turnover and a 24% rise in EBITDA, fostering substantial industrial synergy with Seeweb, our group's cloud computing provider. Given these developments, we deem our mutual trial period can be concluded early, and we are ready to embark on a new phase of our collaborative endeavor. In this forthcoming phase, our objective is to augment synergies with other companies within the group and to broaden Connesi's presence across various geographical regions within Central Italy".
About DHH S.p.A.
Established in July 2015 and located in Milan, DHH SpA ("DHH") is a tech-group that provides the "internet infrastructure" to run websites, apps, e-commerces and software as a service solutions to around 120.000 customers across Southeast Europe (the so-called "Adriatic Sea area"), a geographic area where expected growth rates are higher thanks to current lower digital penetration.
DHH is listed on Euronext Growth Milan, a Multilateral Trading Facility regulated by Borsa Italiana S.p.A. and registered as an SME Growth Market.
For more information please visit: www.dhh.international
Contact DHH S.p.A. Via Caldera 21, 20153 Milano +39 02 87365100 [email protected] www.dhh.international
Euronext Growth Advisor Luca Perconti EnVent Italia SIM S.p.A. Via degli Omenoni 2, 20121 Milano +39 02 22175979 [email protected]
DHH S.p.A. Via Caldera 21, 20153 Milano P.IVA/CF: 09150720960 www.dhh.international 2