(Alliance News) - Servizi Italia Spa announced Thursday that it has finalized the purchase through the exercise of the call option of the remaining 10 percent of Wash Service Srl's share capital for EUR390,000, thus coming to hold 100.0 percent of the company's capital.

Wash Service is an operator active mainly in northern Italy in the provision of washing and rental services for flat linen, guest linen, and operational staff garments of health-hospital facilities, assisted living residences, nursing homes, and retirement homes.

From 2019 to 2023, Wash Service showed a CAGR of 6.2 percent by recording revenues of EUR9.8 million, gross operating income of EUR1.1 million, net income of EUR60,000, and a net financial position as of Dec. 31, 2023 of EUR1.8 million.

Servizi Italia's stock is flat at EUR1.84 per share.

By Chiara Bruschi, Alliance News reporter

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