Bertolotti — M&A Activity 2021

Feb 26, 2021

Informazione Regolamentata n. 0469-20-2021		Data/Ora Ricezione 26 Febbraio 2021 08:30:26	MTA - Star
Societa'	:	BE
Identificativo Informazione Regolamentata	:	142843
Nome utilizzatore	:	SERVICEN03 - Cornini
Tipologia	:	REGEM
Data/Ora Ricezione	:	26 Febbraio 2021 08:30:26
Data/Ora Inizio Diffusione presunta	:	26 Febbraio 2021 08:30:27
Oggetto	:		REGEM_Be_PR26022021_Bye acquisition
Testo del comunicato

Vedi allegato.

Shaping the future

INVESTORS INFORMATION

INVESTORS INFORMATION

26 February 2021 // Milan

Be launches the "Innovability" business by acquiring 60% of Oscar Di Montigny's Be Your Essence company

Be Shaping The Future S.p.A. ("Be" or the Company - BEST.MI), a company listed in the STAR segment of the Italian Stock Exchange and one of Italy's leading players in professional services for the financial sector, has acquired 60% of the share capital of Be Your Essence ("BYE"), an innovative, socially oriented start-up, established as a Benefit Company and certified B Corp, founded by Oscar Di Montigny. The company aims at offering major public and private entities in Italy consulting services in the area of Innovability (the new discipline combining innovation and sustainability).

The partnership with Di Montigny - one of the most passionate and active professionals in Italy in research and dissemination of new business and enterprise models - has the ambition to position the Be Group at the forefront of this rapidly developing sector. Over the next few years significant investments are in fact expected from all stakeholders in civil society, both public and private, to adapt their business models to the principles of sustainability, social responsibility and respect for the environment.

STOCK DATA		GROUP DATA (as of 31.12.2019)		HEADQUARTER	MAIN OFFICES
Reuters code:	BEST.MI	Total Revenues (Eur mln):	152.3	Rome	Milan
Bloomberg code:	BEST.MI	EBITDA (Eur mln):	25.9		London
		EBIT (Eur mln):	12.2		Munich
SHAREHOLDERS DATA		EBT (Eur mln):	11.1		Frankfurt
No. of ordinary shares (mln):	134.9	Net Profit(Eur mln):	6.1		Madrid
Total no. of shares (mln):	134.9	Net Financial Position (Eur mln): (11.4)			Wien
Market cap. (Eur mln):	178.9				Varsaw
Floating (%):	39.8				Bucharest
Floating (Eur mln):	71.2				Kyiv

Main Shareholder: T.I.P. Zurich

Be S.p.A. Investor Relations | Claudio Cornini | +39 06 54 24 86 24 | IR.be@be-tse.it

BYE will offer its clients marketing, communication and corporate governance support services in the area of Innovability, as well as projects for the regeneration of organisations based on the principle of Human Centricity. Much attention will be given to the development of platforms to support new production models using artificial intelligence, analytics and other advanced tools for monitoring ESG parameters, as well as production control and work process management. All in line with the parameters of SDGs model established by the United Nations. BYE will also support companies undertaking the B Corp certification process to establish themselves as Benefit Companies.

Be participated in a dedicated share capital increase resulting in direct ownership of 60% of BYE shares. As a result of this operation, Be will contribute financial means, in terms of capital and share premium, up to a maximum of 425,00 euro. The amount will be sized in relation to the volume of contracts that the current company will have in its portfolio as at 31 March 2021 and may be subject to a price top-up with respect to the average results for the years 2021 and 2022. A PUT&CALL structure has been defined with expiry dates of 2025 and 2027 for the purchase of the remaining minority shares with the possibility of postponing the exercise of the last component until 2030. Oscar Di Montigny will be BYE's Chairman while Stefano Brega will be its Chief Executive Officer. Stefano Quintarelli will be a member of the Board of Directors.

Be will also immediately make available to BYE an intra-group financing line of 1.0 ml/€ to support the company's management and investment in research and development. The operation is being managed entirely with own resources.

Be Your Essence (BYE) is a company with really high potential, - says Stefano Achermann, CEO of Be - which we believe can achieve very accelerated growth. Oscar Di Montigny, its founder, is an exceptional evangeliser and visionary of the world to come. Given the name of the company, aunion was in the destiny of bothparties. BYE will be the vehicle in which we will develop projects and foster highly professional human capital to support, initially major Italian and soon European, companies in their transformation/regeneration process towards innovative and sustainable models. BYE will also be part of a very specialised eco-system that will act as an accelerator for the group's growth.

I have always wanted to make a strong impact on the social system of which I feel I am an intergral part. - says Oscar Di Montigny, Founder and Chairman of BYE. I want this as a human being, as an entrepreneur, as a manager, as a parent, as a citizen of the world. I believe that the historical moment we are living in requires any form of social organisation, large or small, public or private, to take on a new responsibility: to put the human being back at the centre of all its processes. This objective must now be pursued along the two evolutionary lines of any organisation: innovation, provided it is oriented and enhanced by the principles of sustainability, and sustainability, provided it is accelerated and strengthened by the power of innovation. This will enable companies in particular to enter the future regenerated, evolving their business models and adapting the leadership styles of those who lead them. Innovability and Human Centricity will be the two new drivers of success. The partnership between BYE and Be thus fulfils my wish and makes it a reality. I am grateful for the lessons I received, guiding me to create BYE, to those who have invested in the start-up phase of the project and its foundation, and to those who gave us confidence from the beginning; the partnership between BYE and Be now accomplishes our initial desire, hugely increasing its scope, promise and responsibility.

This press release is available on the Company's website www.be-tse.it and on the centralized storage mechanism "eMarket STORAGE" at

About Be

Be Group is listed in the STAR segment of Borsa Italiana and is one of the leading Italian players in the Consulting sector. The company provides Business Consulting and Information Technology services. A combination of specialist skills, advanced proprietary technologies and a wealth of experience enable the Group to work with leading international financial and insurance institutions to create value and boost business growth. With more than 1,300 employees and branches in Italy, United Kingdom, Germany, Austria, Switzerland, Spain, Romania, Poland and Ukraine, in 2019 the Group recorded revenues in the amount of Euro 152.3 million.

Be S.p.A. Investor Relations | Claudio Cornini | +39 06 54 24 86 24 | IR.be@be-tse.it