Servizi Italia

M&A Activity • Jan 28, 2021

Informazione Regolamentata n. 0868-10-2021		Data/Ora Ricezione 28 Gennaio 2021 07:56:28	MTA - Star
Societa'	:	SERVIZI ITALIA S.P.A.
Identificativo Informazione Regolamentata	:	141845
Nome utilizzatore	:	SERVIZIITAN03 - Manti
Tipologia	:	2.2
Data/Ora Ricezione	:	28 Gennaio 2021 07:56:28
Data/Ora Inizio Diffusione presunta	:	28 Gennaio 2021 07:56:29
Oggetto	:	Servizi Italia has signed a preliminary contract for selling the Workwear business unit to Alsco Italia
Testo del comunicato

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PRESS RELEASE 28 January 2021

Servizi Italia has signed a preliminary contract for selling the Workwear business unit to Alsco Italia

Castellina di Soragna, 28 January 2021

Servizi Italia S.p.A. ("Servizi Italia" or the "Company"), a company listed on the STAR segment of the Italian Stock Exchange and leading operator in the outsourcing of hospital services in Italy, Brazil, Turkey, India, Albania andMorocco, informs to have signed a preliminary agreement("Pre-Agreement") with Alsco Italia S.r.l. ("Alsco"), a company incorporated under the Italian laws operating in the rental and laundering of workwear and flat linen for facilities belonging to collectivity and industry sector of the industrial laundry market, for the transfer (the "Transaction") of the workwear business unit (the "Business Unit").

The Transaction has an important strategic value and allows Servizi Italia, as part of a renewed strategy, to:

• pursue initiatives for the sustainable success of its medium-long term business plan, concentrating its resources on consolidating its leadership in the historic core business of public and private healthcare sector;
• allocate the proceeds received from the Transaction, net of the costs incurred for the sale, for strengthening the financial and equity structure and for implementing the new business plan.

The Business Unit involved in the transaction includes, in particular, the customer portfolio of the workwear sector, employees, the factory in Barbariga (BS, Italy) and related property, the contractual relationships with the employees of the workwear sector and related payables, plant, machinery, equipment and other operating assets relating to the workwear sector, workwear linen and textile products, the commercial goodwill of the Business Unit.

The price has been defined between the parties based on the valuation of the elements of the Business Unit and is set at minimum Euro 9 million.

The Transaction is expected to take place within the first half of 2021, it is subject to the fulfilment of certain conditions (related, in particular, to the obtaining of specific operating authorizations requested by Alsco and a third-party clearance for using specific washing products) and it provides for:

• the signing of a 4-year non-competition agreement starting from the closing date;
• the price payment divided as follows: (i) Euro 8 million at the closing date; (ii) the remaining part within the 30 days following the Transaction execution;
• contractual terms agreed between the parties with a set of standard guarantees for similar transactions;
• the absence of any particular current or potential risk of conflict of interest within involved parties, which are third parties and not related to each other.

Roberto Olivi, Chairman of the Executive Committee has declared: "We are particularly proud of the agreement reached with Alsco Italia because it allows Servizi Italia, as part of a renewed strategy, to focus its available resources on optimising and developing its activities in the public and private healthcare sector, seeking to expand the services it offers by focusing on those with greater added value".

Fabrizio D'Antino, CEO of Alsco Italia, said: "This agreement is in line with Alsco Italia's strategy to increase its presence in the professional rental sector of workwear and Personal Protective Equipment, in particular by increasing production and service sites as well as the investment in technical and human resources, hence territorial capillarity and quality of service."

This press release is disclosed using emarket SDIR system and it is now available on Company's website (www.servizitaliagroup.com) as well as on eMarket STORAGE system ().

Servizi Italia S.p.A.,, based in Castellina in Soragna (PR) and listed on the STAR segment of the Italian Stock Exchange. is the leading operator in Italy in the field of integrated services for hire, washing and sterilization of textile materials and surgical instruments for hospitals. With a technologically advanced production platform, articulated in laundry facilities, textile sterilization centers, surgical instruments sterilization centers and many wardrobes, the Company, which together with its Italian and foreign subsidiaries constitute the Servizi Italia Group, turns primarily to companies in public and private healthcare sector of center / northern Italy and the State of S.Paulo, Brazil, Turkey, India, Albania, and Morocco with a wide and diversified offer.

For further information:

Investor Relations Media Relations Servizi Italia iCorporate Tel: +39 0524598511 Tel. + 02 66 666 404 investor@servizitaliagroup.com servizitalia@icorporate.it

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Giovanni Manti, Pietro Giliotti Arturo Salerni, Ilaria Mastrogregori