Armonia acquires Estendo

Estendo SpA, the privately-held Italian provider of warranty extension services, has sold a 68.5% stake to the Armonia SGR private equity firm. The deal valued Estendo at EUR 50 million.

Estendo has a turnover of EUR 25m and has seen, in the last three years, annual turnover growth of 20%.

The vendor, Storti family, will continue to retain a 30% stake in Estendo.

CDI Global acted as advisor to the buyer.

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