Safety21 S.p.A. announced that it had completed its acquisition of 100% of the share capital of the Multiservizi S.r.l. company. After an initial phase of internal growth, characterised by the success of the TITAN® proprietary cloud platform and by innovative infrastructure models for Public Authorities through Project Financing, Safety21 has embarked on a course of national and international acquisitions, aimed at bringing core elements of the Group’s chain of services in-house.
Multiservizi S.r.l., which also includes in its scope the operating branch of Tecnotraffico S.r.l., which it acquired in 2018, is based in Orvieto and is the leading Italian company in the outsourced management of foreign vehicle traffic penalties and the associated recovery of unpaid debts.
“We are very satisfied with the acquisition of Multiservizi, which represents a jewel in our crown in terms of process optimisation,” said Gianluca Longo, Safety21 Group founder and CEO. “And with over 30 years’ experience in the sector, it will contribute to our Group’s management and know-how for the development of specific vertical applications on our TITAN® IoT cloud platform, as well as a client portfolio of over 300 Italian local authorities, including the main metropolitan cities.”
Last May, Safety21 completed a capital increase of EUR 14 million, fully subscribed by the current shareholder, in addition to the EUR 6.5 million already subscribed in recent years. The increase was accompanied by a EUR 15 million senior loan obtained from a pool of banks including UBI Banca (lead bank) and Banco BPM. A pot of resources worth EUR 29 million entirely earmarked for the acquisition of target companies already identified in the relevant national and international markets, of which Multiservizi marks the first step.
Full press release in Italian and English