SCOUTING CAPITAL & FAMILY ADVISORS IS ASSISTING IT CONSULT WITH ITS ENTRY INTO SIAV, A COMPANY LISTED ON THE EURONEXT GROWTH MILAN MARKET
- Urbino (PU), 15 May 2026 – IT Consult S.r.l. (“IT Consult”) an Italian software house active in the development of proprietary solutions for document management, digital processes and cloud services, announces the signing of the agreement for the sale of 100% of its share capital to Siav S.p.A. Società Benefit (“Siav”), a leader in Italy in the Document Management sector, listed on the Euronext Growth Milan.
- In the transaction, IT Consult was advised by Scouting Capital & Family Advisors as financial advisor, with a team comprising Rinaldo Sassi (Founding Partner), Nicola Polato (Managing Director and Head of Equity Capital Markets), Giuseppe Pelliccioni(Managing Director), Enrico Vignoli (Director) and Eugenio Pieri (Analyst).
- The Business Unit Capital Markets of Scouting Capital & Family Advisors, led by Nicola Polato, specialises in advisory services for listed and pre-listing companies on regulated and non-regulated markets, with a particular focus on Euronext Growth Milan. The division enables the Group to offer its clients 360° advisory services, broadening its range of services with specific expertise in public M&A, Equity Capital Markets and extraordinary finance for SMEs, thereby supporting companies across all key strategic options related to the capital markets, from listing to extraordinary transactions.
- The total consideration for the Transaction will amount to approximately EUR 3.4 million and will be settled for approximately 60% through cash payment, broken down as follows: 20% at closing, 20% by 31 December 2026 and 20% by 31 March 2027. The remaining approximately 40% will be settled at the closing date through the exercise of the delegation granted by the Extraordinary Shareholders’ Meeting of Siav to the Board of Directors on 7 April 2026 by means of a reserved capital increase for the current shareholders of IT Consult, the terms of which will be defined at a later stage. An earn-out mechanism is also envisaged, which may increase the consideration up to a maximum of €1 million additional, subject to the achievement of specific adjusted EBITDA targets in the 2026 and 2027 financial years. The closing of the transaction is subject to the fulfilment of the contractually agreed conditions precedent, including the obtaining of authorisation under the Golden Power regulation: the relevant notification was filed as a precautionary measure, given the presence, among IT Consult’s client portfolio, of entities operating in areas related to defence and national security.
- The agreement with Siav represents for IT Consult a significant industrial and commercial growth opportunity: the integration with a leading player in the Enterprise Content Management market will accelerate the development of software solutions, expand the market presence also at an international level and further enhance the technological know-how built over the years by the company’s team. The latter, composed of over 70% of professionals with more than 20 years of experience in the IT sector, will continue to operate in continuity with the current model, preserving the wealth of expertise and solutions developed over more than two decades of activity.
- Headquartered in Urbino (PU) and active for approximately 25 years, IT Consult reported as at 31 December 2025 Revenues of approximately EUR 2.07 million, EBITDA of EUR 0.47 million and Net Financial Debt in break-even.
The company has developed Josh, a proprietary software suite for process, competence and document management, with modules for Business Process Management (BPM), document management, electronic records management (Josh Protocol!), compliant archiving and digital preservation (Josh Archive!), digital signature, electronic invoicing and full-text search. The solutions stand out for their no-code process modelling approach, high customisation and full interoperability with the main ERPs and CRMs. IT Consult serves over 70 clients of primary standing, active in multiple sectors, including defence, aerospace, culture and museum institutions, design, sport, public administration, luxury yachting, airport and metropolitan infrastructure, and consumer goods. The business model is characterised by a high recurring component (approximately 50% of turnover consists of AUP recurring revenues – Assistenza & UPgrade Plan – and cloud) and a solid client lock-in, generated by the deep customisation of the implemented solutions. The new Board of Directors of IT Consult will be composed of Chairman Nicola Voltan, CEO of IT Consult Giovanni Marrè and Board Member Daniele Boggian. - Siav, a company established in 1989 in Rubano (PD), is a leader in the Enterprise Content Management (ECM) and Business Process Outsourcing (BPO) and, since 2021, has held the status of Benefit Corporation. The Company heads an international group, active particularly in the Italian market, with offices in Padua, Milan, Genoa, Bologna and Rome; it also operates in Switzerland and Romania. The Group boasts over 4,000 clients, both direct and indirect, private and public sector. As at 31 December 2025 the Group achieved, on a consolidated basis, revenues from sales and services of EUR 35.7 million and an EBITDA of EUR 9.3 million.
- Siav was advised in the Transaction by the law firm Advant Nctm.
