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.