11 ENR

Baker Tilly Italy Supports RedFish LongTerm Capital in the Acquisition of Saiep

Riccardo Bolla Jul 1, 2024

Milan, June 27

RedFish LongTerm Capital, an industrial holdings company, has successfully completed the acquisition of 100% of Saiep through its subsidiary Movinter. The transaction was finalized with the support of Baker Tilly Italy, which assisted in the closing phase, ensuring the fulfillment of all contractual conditions, including the approval of the golden power procedure. The total consideration for the acquisition was €4.35 million, with €3.85 million paid at closing and €0.5 million as deferred payment due by June 30, 2025. Additionally, an earn-out for the seller Alberto Santi is contingent on Saiep's results for 2024 and 2025. Santi will continue to lead Saiep for the next five years. This acquisition is part of RedFish's horizontal integration strategy in the Aerospace, Rail & Navy markets.

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