The shareholders of Switcho, an Italian start-up specializing in comparing offers for electricity, gas, telephony, and insurance, which has seen significant and consistent growth in its sector over just five years and generated revenues of approximately €6 million in 2023 (thanks to the support of institutional investors like CDP Venture Capital and the Azimut Group), have sold a majority stake to Mavriq, an institutional brand that brings together the brands of Moltiply Group, specializing in the online comparison and brokerage of products and services.
Following Mavriq’s entry, the founders of Switcho will retain a 20% stake and will continue to provide their support for managing the company in its new growth phase.
The agreed enterprise value for 100% of Switcho’s shares is €20 million, and an earn-out of up to €4 million is also expected based on Switcho’s results in 2024.
LEXIA assisted the founders of Switcho with a team led by partner Marco Muscettola and counsel Mattia Argento, and composed of counsel Melania Mazzon and associate Matteo Vagnoli.
More details are available here: https://legalcommunity.it/pedersoligattai-e-lexia-nellacquisizione-della-maggioranza-di-switcho-da-parte-di-mavriq/ https://www.lexia.it/wp-content/uploads/2024/07/Mavriq-compra-l80-del-gruppo-Switcho-Il-Sole-24-ORE.pdf
