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Energy S.p.A acquires 90% of Enermore S.r.l. and expands its business into Germany, Austria and Switzerland

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EQS-News: Energy S.p.A. / Key word(s): Takeover/Acquisition
Energy S.p.A acquires 90% of Enermore S.r.l. and expands its business into Germany, Austria and Switzerland

30.05.2024 / 09:41 CET/CEST
The issuer is solely responsible for the content of this announcement.


Energy S.p.A acquires 90% of Enermore S.r.l. and expands its business into Germany, Austria and Switzerland

Enermore S.r.l. specializes in large-scale storage system installation and maintenance consultancy, design and control and has a particular presence in the  D-A-CH area.

CEO Tinazzi: “The acquisition brings with it many advantages, including the provision of greater engineering support to the design and construction of medium to large plants, boosting the
quantity and quality of services for our clients
.”
 

Sant’Angelo di Piove di Sacco (Padua), May 30, 2024 – Energy S.p.A. (the “Company” or “Energy”), an Italian leader in storage systems for energy from renewable sources (BESS, Battery
Energy Storage System), listed on the Euronext Growth Milan market (ISIN Code IT0005500712, Ticker ENY), announces that on May 29, 2024, it has signed a preliminary agreement
to purchase 90% of the share capital of Enermore S.r.l, a company based in Sterzing (BZ) and held by a German holding company, Natural Resources Holding AG.

Enermore S.r.l. specializes in storage system installation and maintenance consultancy, design and control. 

The transaction is expected to close by the first half of June 2024. Following the closing, the governance of the company – which will retain its current name considering the
recognition it has achieved on the market – will be entrusted to a Board of Directors, of which Energy S.p.A. will hold the majority.

In line with the company’s growth strategy, the acquisition aims to strengthen the Energy Group’s know-how regarding the integration of storage systems into power generation plants, with the goal
of extending the technical service offering to the renewable energy sector supply chain.

The acquisition will take place in cash, based on an assessed Enterprise Value of Euro 2.2 million, net of the forecast Net Financial Position of approximately Euro 1.2 million at the closing date
of the transaction. Enermore S.r.l. for 2023 reported sales of Euro 3.8 million and EBITDA of Euro 0.5 million.

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