In the period between 1 January 2021 and 30 June 2024, 123 EGM companies they have achieved overall 275 acquisitions, for a total investment equal to 1.52 billion euros and an average investment per single transaction equal to 5.5 million euros.
123 EGM companies, 275 acquisitions
82.2% of the targets are Italian, while 10.5% of the operations involved EU companies and the 7.3% non-EU companies. This is what emerges from the ECM Euronext Growth Milan Observatory by Irtop Consulting. The first companies in terms of number of acquisitions are Digital360 (a company no longer listed following a takeover bid finalized in October 2023, which acquired 19 targets), Relatech (10 acquisitions), Lindbergh and MAPS (with 8 and 7 acquisitions respectively).
5.5 million euros average value of single transactions
The main operations on Italian targets by transaction value, the transactions were made by Italian Wine Brands (which acquired 100% of EnoItalia for a value of approximately 151 million euros), Cy4Gate (a company that moved to the main market in June 2023, which acquired 100% of Aurora for a value of approximately 90 million euros), Reway Group (which acquired 70% of Se.Gi. for a value of approximately 63 million euros).
The main operations on foreign targets by value of the transaction were carried out by Comer Industries (a company that went public in July 2023, which acquired 100% of WPG Holdco, based in Germany, for a consideration of approximately 203 million euros), Ala (which acquired 100% of SCP Sintersa, based in Spain, for a consideration of approximately 43 million euros) and Gibus (which acquired 100% of LEINER, based in Germany, for a consideration of approximately 37 million euros).
“The M&A transactions are one of the most widespread “use of proceeds” policies after the IPO on Euronext Growth Milan. The data from our ECM Observatory show how M&A programs have led to a significant development of companies, promoting consolidation processes in different sectors of the Italian business fabric.o. There are 123 companies listed on the EGM who have carried out 275 acquisition transactionsfor a total investment of 1.52 billioni euro. The reorganizations linked to M&A activity have led to a consequent restructuring of business models, an acceleration of digital development and a greater focus on sustainability issues. These operations are also possible thanks to ever-increasing investments aimed at encouraging the creation and development of new technologies or supply chains to expand outlet markets. Listing on the stock exchange is proving to be the most used tool by SMEs to accelerate growth through external lines”, underlines Anna LambiaseCEO of IRTOP Consulting and Scientific Director of the ECM Observatory.
