Grant Thornton Financial Advisory Services has provided financial and tax due diligence services to Alperia AG in the proposed acquisition of 70% of the shares of SUM – Servizi Unindustria Multiutilities SpA.
Alperia is one of the leading multi-utility companies in Northern Italy, with consolidated revenues of over €1.1 billion and an EBITDA of around €150 million in 2017.
SUM, oa player active in the energy business, mainly in the areas of Treviso and Venice, recorded revenues of over €130 million, an adjusted EBITDA of €0.8 million and a positive net financial position in 2017.
The agreement, which allows Alperia to strengthen its presence in the North East, has been signed on the basis of a valuation of SUM of €5,3 million (100% of its Enterprise Value), plus the valuation of the equal net financial position and other items for a total of €9,1 million (100% of its Equity Value).
In addition, options are provided for the transfer of the remaining shares, representing 30% of the capital, on the approval of the financial statements as at 31.12.2021.
Closing is expected to take place in the first few months of 2019.
The team who assisted Alperia AG in the transaction was composed by Stefano Marchetti, Stefano Salvadeo, Antonio Aiuto, Martina Petrella and Alessandro Bartolini.