(Tiper Stock Exchange) – Rocket Sharing Companya start-up that has developed an innovative sharing economy platform integrated with a loyalty system and the supply of direct services such as energy and gas, announces that it has been completed the acquisition of 51% of the share capital of STANTUP from Joule Partecipazioni and CSSC as sellers, in proportion to the respective ownership shares equal to 25.5% each, ad total price of 1.5 million euros.
In addition to the Purchase Price, Rocket has pledged to correspond in favor of the Sellers, in proportion to the respective ownership stake in the Controlling Stake, a any additional payment (earn-out) not exceeding 500 thousand euros upon the achievement by STANTUP of a total EBITDA, in the two-year period 2023-2024, of 800 thousand euros. The Earn-Out will be paid by Rocket in favor of the Sellers 50% in cash and the remaining 50% by assignment of 250
Rocket common stockwithout any lock-up restrictions.
Luigi MaistoPresident and Chief Executive Officer of Rocket explained “after a careful scouting activity we are very satisfied to have completed this important acquisition transaction which kicks off the growth strategy for external lines, in line with what was announced to the market in the course listing. Stantup is a very interesting reality that will allow us to accelerate the growth path by increasing and verticalizing the offer with new services and a new technological platform, realizing synergies and economies of scale. We intend to further develop Stantup’s services by expanding the target of customers and further follow up on the M&A strategy by evaluating new opportunities that allow Rocket to carve out an increasingly important space for itself in the sharing economy”.
For Giuseppe Dell’Acqua BrunoneCo-Founder and CMO of Stantup, “the decision to join a group listed on the stock exchange is a source of pride for us and above all a strong accelerator for realizing the industrial plan which envisages 4 strategic guidelines: 1) Supervising the start-up of new resellers to consolidate the leadership position, 2) Expand the products and services offered through a dedicated marketplace, 3) Provide consultancy, training and outsourcing services to already active resellers, 4) Replicate the “Reseller From Zero” model also at TELCO and Insurance”,