Arrigoni Avvocati Associati advised both selling partners on the transaction.
The sale was made for €1.3 million, with total consideration of €940,000. Of this, €540,000 has been agreed to be paid in cash while €400,000 will be paid in either cash or ELES shares at the company’s discretion. An earn-out of €400,000 will be paid to the selling shareholders if certain conditions are met. The transaction will be financed through the use of ELES’s own resources.
Arrigoni Associati’s M&A team advising the sellers consisted of founder Bruno Arrigoni and associate Carolina Pasotti.