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Cellularline Expands in Germany

Marco Cagnetta, CEO Sales and Marketing for Cellularline
Marco Cagnetta, CEO Sales and Marketing for Cellularline

Italian mobility vendor Cellularline has signed a binding agreement to acquire 60% of the capital of Peter Jäckel Kommunikationssysteme GmbH, a German smartphone accessories company.

Cellularline will pay €3.05 million in the first half of 2023. Following the approval of the 2022 financial statements, any price adjustment will be paid.

"Cellularline will finance the purchase with a credit line exclusively for M&A transactions, which has already been signed with Banco Bpm and Intesa Sanpaolo", said Marco Cagnetta, CEO Sales and Marketing for Cellularline.

In 2021, the German distributor had sales of €9.4 million with a net profit of €1.42 million. Cellularline therefore valued the company at around €5 million: 3.5 times 2021 earnings.

Peter Jackel GmbH's Net Financial Position at closing is estimated to be positive by about €0.6 million. The company's entrepreneur-founders will retain their role in the company and work alongside Cellularline's management to achieve ambitious growth targets in the German market.

Cellularline has agreed on an incentive mechanism through incremental valuations over the three-year period 2023-2025, in which the parties will be able to exercise put-and-call options on the minority shareholding.


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