21 Invest has signed an agreement to sell 80% of its stake in Assicom, Italy’s #1 provider of B2B credit collection services and a leading player in business information services, to Tecnoinvestimenti, an Italian listed company and one of the main industrial players in the Credit Information and Digital Trust market. The founder of Assicom, Alessandro Salvatelli, will sell the majority of his stake in this transaction alongside 21 Invest to Tecnoinvestimenti and will remain as minority shareholder and CEO of Assicom.
Assicom was founded in the early 1990s and provides tailor made B2B credit collection services both in Italy and abroad, in addition to business information services, enabling its customers to evaluate the good standing and solvency risk of clients and counterparties.
Since 21 Invest’s investment in September 2012, Assicom has completed 2 acquisitions (one in Switzerland and one in Italy) and established a JV with a debt collection network based in Belgium, enabling the company to extend its product range to include real estate business information for the finance and banking sector, to broaden its cross selling potential and geographical reach, and to generate significant synergies.
On the back of these targeted actions to boost growth and improve efficiency, Assicom has more than doubled its Ebitda over 21 Invest’s tenure. Following this partial realization, the exit of the remaining shares is expected to take place in 2017 with potential further upside linked to the value creation project currently under implementation. The partnership with Tecnoinvestimenti creates a leading player in the Italian Credit Information market and will allow to further generate significant synergies and cross selling opportunities going forward.
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