SCOUTING CAPITAL ADVISORS IN THE ACQUISITION OF SOS TARIFFE S.r.l.
- Alberto Mazzetti, Giuliano Messina and Umberto Lentini, founders of SOS Tariffe S.r.l., Italy’s leading price comparison website for telecoms and energy contracts‘ (www.sostariffe.it), have sold 100% of their capital to Gruppo MutuiOnline S.p.A.
- Scouting Capital Advisors‘ assisted SOS Tariffe S.r.l. and its shareholders’ in the sale transaction, with a team led by Filippo Bratta (Partner) and Elena Dal Pozzo‘ (Senior Analyst) as financial advisor. Pirola, Pennuto Zei & Associati‘ with a team led by Francesca de Fraja (Partner) and‘ Giulia Gandolfi’ (Associate) acted as legal advisor to the Sellers.
- In the transaction, Gruppo MutuiOnline was assisted by BE Partner as financial advisor and by Studio Gattai, Minoli, Agostinelli & Partners and Studio Morpurgo as legal advisor.
- The agreed price for the transaction was of the shares in SOS Tariffe S.r.l. is € 28.7 million, of which € 25.7 million paid at closing and € 3.0 million withheld as escrow to guarantee any indemnity obligations deriving from the sale and purchase agreement, with progressive release over a three-year period. In addition, there is a conditional price component of up to € 0.8 million, subject to the occurrence of certain events, which may be paid by 31 December 2021.
- The consolidated revenues of SOS Tariffe and its subsidiaries were Euro 8.7 million in 2018, Euro 8.2 million in 2019 and Euro 6.3 million in the first half of 2020, while EBITDA was Euro 1.4 million in 2018, Euro 0.1 million in 2019 and Euro 1.7 million in the first half of 2020. As at 30 June 2020, the aggregate net financial position of SOS Tariffe was positive for approximately Euro 1.9 million.