Acea Group (ACEJF,ACE.MI), Thursday said that it has, through its subsidiary a.Quantum, submitted a binding offer to acquire up to 100 percent of Aquanexa, including its indirect shareholdings. The company added that the offer has been accepted by Algebris Investments, via the Algebris Green Transition Fund.
The Italian water supply company said that the deal is expected to be in the first quarter of 2026, subject to anti-trust approvals and the signing of definitive agreements.
Acea Group said that Aquanexa provides integrated smart water cycle management solutions, by making use of digital technologies, advanced sensors, and operational services for utilities, public entities, and corporates.
The company said that the transaction values Aquanexa at an estimated enterprise value of 205 million euros. The consideration will include a fixed component and variable earn-out elements linked to organic EBITDA growth in 2025, which is initially estimated at around 27 million euros.
According to Acea Group, the scope may expand through ongoing acquisitions, potentially increasing the earn-out within agreed limits.
ACEJF.PK ended Wednesday's trading at $23.30.
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