Servizi Italia S.p.A. (BIT:SRI) has exercised its call option to acquire remaining 10% stake in Wash Service S.r.l. for ?0.39 million on July 4, 2024. Following the acquisition Servizi Italia now holds 100% stake in Wash Service. The purchase of the company will be financed through bank debt and part of the price is also paid as consideration for the non-competition agreement signed by the sellers. From 2019 to 2023, Wash Service shew a CAGR of 6.2%, recording revenues equal to ?9.79 million, an EBITDA of ?1.07 million, a net profit of ?0.06 million, and a net financial debt as at December 31, 2023 of ?1.78 million.

Servizi Italia S.p.A. (BIT:SRI) completed the acquisition of remaining 10% stake in Wash Service S.r.l. on July 4, 2024.