(Alliance News) - Tinexta Spa announced Monday the creation of a new business line dedicated to strategic consulting that will assist corporate clients in defining their strategic directions and executing high-impact transformational projects. Responsibility for the project is assigned to Aurelio Matrone, Group Chief Strategy Officer at Tinexta.

As the vehicle designated to provide advisory services, Tinexta has established Antexis Strategies Srl, wholly owned, which has signed binding agreements to acquire 60 percent of the capital of Lenovys Srl, which will represent the core of the project's business proposition.

The consideration for the acquisition of the 60% stake in Lenovys will be calculated at closing on the basis of an Enterprise Value of EUR15 million, plus adjusted NFP, and will be paid in three tranches between 2024 and 2026. Put and call options are also provided for the purchase of the minority stake to the extent of 50 percent of it, following the approval of the 2026 financial statements, and for the remainder, upon approval of the 2027 financial statements.

Based in Livorno and Milan, Italy, Lenovys, founded in 2009 by Luciano Attolico, boasts a client portfolio of about 1,000 accounts, with more than 50 professionals, mostly engineers, spread across three offices in Italy. The company serves more than 130 high-profile mid-corp clients annually, to whom it offers Strategic and Lean Management consulting, articulated in 6 competence centers: Strategy & Governance, Office & Operations, Innovation & R&D, People & Organization, Sales & Go-to Market and Digital Change.

Lenovys expects FY 2023 revenues of about EUR7.8 million and reported Ebitda of about EUR1.8 million with an Ebitda margin of 23.1 percent.

The acquisition will be financed with the group's existing cash, Tinexta notes in a statement. Luciano Attolico, founder and current key manager of Lenovys, and all top management will remain with the company.

Pier Andrea Chevallard, managing director of Tinexta, commented, "Strengthening the group's consulting expertise is one of the focuses of our strategy for the next three years. The establishment within the group of a business line dedicated to strategic advisory, through Antexis and with the contribution of Lenovys, allows us to have a unified and privileged vantage point on our clients' strategic priorities and related operational needs, with relevant synergies with the group's other BUs."

Tinexta's stock is down 0.9 percent at EUR18.97 per share.

By Chiara Bruschi, Alliance News reporter

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