Espe S.p.A. signed a binding letter of intent to acquire Permatech S.R.L. from Matteo Vecchiato and Giuseppe Vecchiato for ?1.5 million.

Espe S.p.A. (BIT:ESPE) signed a binding letter of intent to acquire Permatech S.R.L. from Matteo Vecchiato and Giuseppe Vecchiato for ?1.5 million on June 28, 2024. The price was agreed at ?1.5 million, to be paid in several installments, of which ?0.1 million as a contingent part conditioned on the occurrence of certain future events. The acquisition is therefore aimed at internalizing this activity.

As of December 31, 2023, Permatech achieved a turnover of ?2.3 million and an EBITDA of ?0.6 million, equal to an EBITDA Margin of 27% against a cash positive net financial debt of ?0.3 million.