Acquisition of a 70% stake in Simam S.p.A. finalised today
Acea today finalised an agreement to acquire a 70% equity interest in Simam S.p.A (Servizi Industriali Manageriali Ambientali), a leading company in the engineering, construction and management of water and waste treatment facilities, and in environmental interventions and remediation, with high-tech global services.
Based on 100% of the company’s enterprise value, the transaction has an economic value of 30 million Euro. The agreement provides for the possibility to purchase additional quotas up to 100% of the company starting from 2023.
The company will be fully consolidated by Acea, with an expected annual contribution to EBITDA of around 7 million Euro.
Via the acquisition of Simam, Acea is vertically integrating its competencies, strengthening its infrastructure building capabilities and ensuring efficiency and flexibility in the operational management of industrial activities, with particular reference to the circular economy. Furthermore, the transaction enables Acea to consolidate and expand its know-how in management of its assets, bringing value also via the application of new technologies in the field of Engineering and Project Management.
In this project the firm NTCM performed the role of legal advisor.