(Alliance News) - Tinexta Spa announced Thursday that it has finalized-through its subsidiary Warrant Hub Spa-the acquisition of 73.9 percent of France's ABF Group SAS.

The enterprise value for 100 percent of ABF Group was estimated at EUR155 million. Therefore, assuming zero net financial debt, the consideration for the purchase of 73.9 percent of the company's capital would be EUR114.6 million, of which 85 percent or EUR97.4 million would be paid at closing and the remainder would be paid through two earn-outs, amounting to EUR5.7 million and EUR11.5 million, respectively, linked to performance in 2023 and 2024.

There are also put and call options for Warrant Hub to purchase the minority interest in an amount equal to 50 percent of it, following the approval of the ABF Group's 2027 financial statements, and for the remaining 50 percent, following the approval of the 2028 financial statements, depending on the company's performance during the refeirment periods.

ABF Group, headquartered in Tours, France, was founded in 2004 and carries out, through a network of business partners and highly qualified professionals, consulting activities to SMEs for the development of territorial projects supported by public funding for innovation. ABF Group is also present in the market for europlanning and tax incentives.

Between 2020 and 2022, the company recorded significant revenue growth from EUR10.1 million to EUR19.9 million, with a 2022 adjusted Ebitda of EUR9.4 million and an Ebitda margin of 47 percent. The company's operating margin has steadily remained above 45 percent in recent years, enabling ABF Group to position itself as a market leader in the segment of medium-sized players.

Tinexta's stock is up 3.9 percent to EUR17.85 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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