(Finance) – TXT e-solutionsan Italian IT company listed on Euronext STAR Milan, has signed a contract for the acquisition of a shareholding representative of the 21.44% of Ennova by the minority shareholders and managers of the latter, for which TXT holds the totality of the share capital. 78.56% of Ennova was acquired in July 2022. In 2021, Ennova reported revenues of over 60 million euros and Adjusted EBITDA of 5.3 million euros, with an improving forecast for 2022.
The corresponding is 6.4 million euros, of which 4.9 million euros (75%) paid in cash and 1.5 million euros (25%) through ordinary TXT shares sold at the price corresponding to the average price of TXT shares 30 working days prior to the closing date. The contract includes two earn-out clauses in favor of the selling shareholders who will continue to hold strategic managerial roles.
“The integration of Ennova into TXT allows us to grow rapidly, with positive and significant impact on revenue volumes and margins group – commented the CEO Daniele Misani – The synergies on skills and digital platforms, the cross and up-selling initiatives already underway on the prestigious consolidated customer base, will contribute to sustainable and continuous growth of value in favor of our shareholders, collaborators and customers “.