Orsero S.p.A. (BIT:ORS) signed exclusivity agreement to acquire CAPEXO S.a.s. from Vincent Soler and Jean-Luc Maury for €44.6 million on July 27, 2022. In a related transaction, Orsero signed exclusivity agreement to acquire 80% stake in Blampin S.a.s. from Blampin and Colin families for €40 million. As of October 10, 2022, Orsero signed an agreement to acquire CAPEXO S.a.s. from Vincent Soler and Jean-Luc Maury. The consideration for the acquisition is equal to a total of about €44.6 million of which €33 million to be paid on signing (base price) and about €11.6 million to be paid as earn-out in 3 annual tranches of equal amount subject to the achievement of profitability targets set for the 12 months which will end on June 30, 2023, 2024 and 2025 respectively. The base price is subject to a possible price adjustment if the net financial position of Capexo (net liquidity) as of August 31, 2022 will be higher than the net financial position of Capexo (net liquidity) estimated in €2 million for the purpose of calculating the consideration above. The operations are expected to be financed partly through Orsero's available financial resources and partly through a bank loan.

CAPEXO achieved revenues of approximately €66 million at the end of June 30, 2021, employing a staff of about 55 people. Vincent Soler and Jean Luc Maury, who will also continue to hold the positions of President and General Manager respectively, for a period of 3 years (with option for a further 2) as well as a non-competition agreement.

The acquisition is subject to obtaining a loan intended, among other things, for the acquisitions of the Orsero Group, the issuance of any legal authorizations (regarding antitrust and the regulation of foreign investments) and the obligations provided for by the French law in favour of employees in the event of the sale of the company. It is expected that, upon the occurrence of the foreseen conditions, the closing of the transaction may take place in the last quarter of 2022.

Orsero S.p.A. (BIT:ORS) completed the acquisition of CAPEXO S.a.s. from Vincent Soler and Jean-Luc Maury on January 10, 2023. Virginie Viallard of Viguié Schmidt & Associés acted as legal advisor to Orsero.