Co.Mark was assisted in the transaction by Juridicum Avvocati Associati, in the role of legal advisor, by Epyon, which handled financial due diligence, and by Gatti Pavesi Bianchi Ludovici for tax due diligence. The sellers were advised by Simbiosity, Gruppo Rfk, Alma Società tra Avvocati and Studio Mariani.
Co.Mark S.p.A., subsidiary of Tinexta Group, finalized an agreement with the shareholders of Queryo to enter the company’s share capital, evaluating the 60% stake on the basis of cash free/debt free of approximately 8.75 million euros. Moreover, the investment includes a variable price component of approximately 1.2 million euros, which will be paid as an earn-out in consideration of the 2021 performance.
Queryo is a Digital Agency founded in 2014 that mainly offers campaign planning and management services for Digital ADV, SEM (Search Engine Marketing) – SEA (Search Engine Advertising) and SEO (Search Engine Optimization), Social Media Marketing, Remarketing and advanced Web Analytics with a distinctly Data Driven and performance-oriented vision.
Co.Mark Spa enters the share capital of Queryo with the objective of extending its offer and supporting the company’s growth plan over the next few years, which foresees to close 2020 with revenues around 4.8 million euros and an Ebitda of approximately 2.5 million euros. For the remaining 40% shareholding a PUT/CALL mechanism will be applied based on multiples that vary according to the results achieved. To date, the estimated debt for this option is approximately 6.9 million euros.
The “Innovation & Marketing” Business Unit of Tinexta Group to which Co.Mark belongs strengthens its position as a growth enabler for client companies. This investment marks a significant acceleration for Co.Mark in extending its offer dedicated to marketing & commercial development.
Alma STA advised the sellers with a team led by partner Roberto Nigro (Picture) assisted by associate Sara Aratari.
Co.Mark was assisted in the transaction by Juridicum Avvocati Associati with a team composed by Stefano Maria Zappalà, Giusi Staropoli, Maria Juan and Cristina Fonti.
Involved fees earner: Sara Aratari – Alma STA; Roberto Nigro – Alma STA; Maria Cristina Fonti – Juridicum Network; Maria Juan Parra – Juridicum Network; Giuseppina Staropoli – Juridicum Network; Stefano Maria Zappalà – Juridicum Network;