Empoli (FI), July 30, 2024 Sesa (“SESA” – SES.MI), reference player in technological innovation and digital services for the business segment, has acquired through Var Group S.p.A. the 60% majority stake of PV Consulting S.r.l. (“PV Consulting”), strengthening its enterprise platform competencies to support the digital transformation of Made in Italy economic districts.

PV Consulting, company based in Rome, with revenues in the FY 2023 of Eu 1.5 million and an Ebitda margin of about 10%, operates with a team of 15 skilled human resources in consultancy and management solutions, especially on the SAP HCM (Human Capital Management) platform. The company, established over 15 years ago, has a consolidated expertise in software solutions for the management of businesses and organisations, with a specific focus on the implementation of management systems for the administration, management and development of Human Resources.

The corporate partnership was carried out by Var BMS S.p.A., wholly owned subsidiary of Var Group and reference player in Italy in the SAP market, contributing to strengthening a competence hub with approximately Eu 65 million in revenues and 400 human resources. The acquisition has been closed on evaluation criteria in line with those usually adopted by Sesa Group, with an Enterprise Value in application of a 5x Ebitda multiplier of the target company. It is planned to involve operationally and on a long-term basis, through equity commitment mechanisms, the founders and key people of PV Consulting, Luca Quadarella, Gianluca Lisi, Stefano Proietti, and Andrea Maria Valtorta, with targets of industrial integration in Var BMS, development of digital skills, and enhancement of human capital.Sesa Group continues to boost its development path, both in terms of human resources and digital skills, through bolt-on industrial M&As with targets of long-term sustainable value generation for all stakeholders.

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“We confirm our innovation-oriented approach, aware that people with their expertise are the driving force of the organisational and cultural transformation of companies. Var Group, as a strategic partner, aims to lead companies in the adoption of innovative technologies, platforms and functional models in line with market and business evolution. We welcome the PV Consulting team to enrich our SAP skills in the Enterprise Platform area”, stated Francesca Moriani, CEO of Var Group and Fabio Falaschi Var BMS Managing Partner.

“We are glad to join the Var Group organisation and the Sesa Group, in order to boost the growth of competences and contribute with our know-how to improve the offer of application consulting on SAP platform, strengthening the ability to support Italian companies. PV Consulting is a team of professionals that has always worked to bring the best digital technologies to serve businesses and the people who are part of them”, stated Luca Quadarella, Gianluca Lisi, Stefano Proietti and Andrea Maria Valtorta, Managing Partners of PV Consulting. “We continue our path of developing resources in the consulting and technology platforms sector for the enterprise segment, through bolt-on industrial M&A with objectives of extending our operational scope and generating sustainable and long-term value for stakeholders”, stated Alessandro Fabbroni, CEO of Sesa.