The bid price for the PA Group is approximately €60 million, based on a valuation of €74 million, equal to the enterprise value of the PA Group and an earn-out of a maximum €13 million over 3 years on achieving the 2019, 2020 and 2021 performance objectives.
“This transaction is a key step for the Retelit Group which, with the new expertise and solutions acquired, can play a leading role in the ICT sector, with complete solutions both for the infrastructure and services segments,” said Dario Pardi, chairman of Retelit. “A unique entity on the ICT market is created, which can offer to the market of enterprises committed to digital transformation integrated solutions delivered completely on group managed platforms. The investment of the current PA shareholders in Retelit further confirms the strength of the industrial project and guarantees their active involvement in ensuring the success of the business combination.”
Partner Associates Group is a system integrator, providing complete and integrated solutions, such as operating software (SAP, Microsoft Dynamics, software and proprietary products, etc.), CRM, business analytics, networking, cybersecurity, cloud and Data centre services, both to large enterprises and to SME’s, largely in the finance, industry, TLC and public sector segments.
“Together with chairman Pardi we have therefore concretely launched the “second phase” of the transformation that began in 2015 with our appointment to the company board,” added Federico Protto (pictured), chief executive officer of Retelit. “Over these years, Retelit has followed a path featuring innovation and the extension of the range of solutions offered -transforming from a purely infrastructural company to an enterprise capable of providing a wide range of ICT services. The acquisition of the PA Group allows us to further speed up this evolution and establishes us on the market with a renewed and richer offer thanks to the gaining of new expertise, while maintaining at the same time high profit margins. It should not be forgotten, finally, that we will continue to invest in our proprietary infrastructure, one of the most complete in Italy, which has already been improved by that managed by the PA Group in the North-East.”
PA Group is involved in telecoms through its subsidiary InAsset, a company that specialises in managing data centre services and infrastructure.
“The transaction is a fundamental development for the extension of the PA Group’s offer, which will extend its portfolio with high added-value proprietary infrastructure, further consolidating the link with the companies with whom we operate, offering them the option of a fully comprehensive service,” continued Ennio Baracetti, chairman of PA Group. “I personally am greatly excited to join such a strategic ICT Group as the Retelit Group, also in view of the significant professional and personal growth opportunities which Retelit will offer to the PA Group and its collaborators.”
