Genoa, 09 February 2024 – EdiliziAcrobatica S.p.A. (“Company” or “Acrobatica“) – a company specialising in double safety rope construction work, listed on Euronext Growth Milan (EDAC) and Euronext Growth Paris (ALEAC), which from 2024 will position itself worldwide under the single brand ACROBATICA – announces that today it signed binding agreements to establish a joint venture (the Joint Venture) with the Italsoft Group, an Italian leader in technology enabling digital and energy innovation in the construction and real estate sectors dedicated to environmental sustainability and decarbonisation through energy redevelopment, energy community management and the transformation of buildings into smart buildings – and at the same time to have proceeded to set up the company “Acrobatica Smart Living” S.r.l. (the NewCo or Acrobatic Smart Living).
With this operation Acrobatica took one more step in the upward trajectory that has set it apart for 30 years in order to increase the value of services provided directly to families. The NewCo represents a pooling of the recognised competitive advantages of the Acrobatica group (thousands of direct contacts with condominium administrators, a sales network covering the whole of Italy, a distinctive know-how) with Italsoft’s innovative technology and human tech vision for living.
Acrobatica and Italsoft have thus combined their expertise in their respective fields so that the NewCo can operate in the energy requalification of buildings, the creation of energy communities and the transformation of buildings into smart buildings – while generating business opportunities for the parties’ core businesses – and in a second phase in the provision of services related to condominium administration and management of a substantial number of properties in Italy through digital platforms.
Today Acrobatica acquired a majority stake equal to 51% of the capital, fully subscribed and paid up, which guarantees control and therefore the possibility of consolidating the NewCo within the Group’s scope. As a minority partner, became the owner of a 49% stake in the NewCo.
The establishment of the NewCo and thus the start-up of the Joint Venture builds on and maximises the 30 years of work done by the Acrobatica Group and capitalises on Italsoft’s transformative vision by creating a player that can be the first to enter new businesses with a unique method and entrepreneurial strength focused on transforming the culture of the construction world.
“The Joint Venture between Acrobatica and Italsoft, established in Acrobatica’s 30th year, represents another very important step for our Group as we pursue our goal of generating services of value for the condominium and the end customer”, commented Anna Marras, CEO of the Acrobatica Group. “The centrality of customers and the satisfaction of their needs are the foundation of our business, and with this agreement with our technology partner Italsoft we will be able to offer services in an even more accessible, efficient and sustainable manner, and above all be even closer to our customers in the satisfaction of their needs”.
“With this new project we can capitalise on the experience gained in recent years with Acrobatica Energy and move forward with our diversification and innovation, thus continuing to do something that has proven fundamental for us”, added Tino Seminara, CEO of Acrobatica Energy and of Acrobatica Smart Living. “This new company, born from the union with a technological partner of great importance in the Italian market, will give an important boost to energy requalification projects, energy communities for apartment buildings, smart building applications, and at the same time Acrobatica Energy will be able to remain focused on the development of the photovoltaic business”.
“In the field of international development, this partnership will allow us to acquire additional skills related to innovative projects that, starting from the Italian market, we will be able to replicate in foreign countries as well”, explained Riccardo Banfo, Group CFO of Acrobatica and member of the NewCo’s board. “We are enthusiastic about joining forces with Italsoft and also confident that creating added value for our customers will allow us to achieve new economic and financial goals for both groups”.
“We are delighted to announce the partnership between Acrobatica and Italsoft aimed at energy requalification and the transformation of apartment buildings into smart buildings. The new company brings together Acrobatica’s condominium market and Italsoft’s financial and engineering technology ecosystem services. Once again the most prestigious customers prefer us because of our ability to guarantee strict document control and rigorous site monitoring through digital platforms and video inspections, which distinguish our way of doing things”, said Italsoft founders Andrea and Giorgio Brigo.
“Human tech for living is the new technology that we have developed to improve both the energy class of buildings and to design a new way of living in our homes, transforming them into smart buildings“, observed Alessandro Fontana, President of the new company set up between Italsoft Group and Acrobatica and CEO of Italsoft Group, and Luca Barucco, a member of the Board of Acrobatica Smart Living and responsible for the development of Italsoft’s new projects. “We think our two businesses are highly complementary, both focused on the continuous search for innovative solutions for a new way of building that generates permanent energy savings, which remains a duty to the planet and benefits people’s daily lives and well-being”.
TERMS OF THE JOINT VENTURE AND SHAREHOLDERS’ AGREEMENTS
Specifically, pursuant to the binding agreements signed today, a new limited liability company was established under Italian law named Acrobatica Smart Living S.r.l., of which the Company became the majority quotaholder through the subscription of an initial stake representing 51% of the quota capital (the Binding Agreements).
At the same time as the establishment of the NewCo, a board of directors was appointed consisting of 5 (five) members, 3 (three) of whom were appointed by Acrobatica in the persons of Anna Marras, Tino Seminara (who will also take on the role of managing director) and Riccardo Banfo. The remaining directors were instead appointed by Italsoft in the persons of Alessandro Fontana, who will also take on the role of chair of the board of directors, and Luca Barucco. The governing body will remain in office until the approval of the NewCo’s annual financial statements for the year ending 31 December 2026. Five-year quotaholders’ agreements were also signed by Acrobatica and Italsoft to regulate the governance of the NewCo.
For the establishment of the Joint Venture Acrobatica was assisted by LCA Studio Legale for all legal and corporate aspects and by Emintad Italy S.r.l. as financial advisor, while Italsoft was assisted by its in-house counsel.
This press release is available online at www.1info.it and on the Issuer’s website at www.acrobaticagroup.com (Investor Relations / Press Releases section). For info: www.acrobaticagroup.com