Eprcomunicazione Takes Control of Cernuto Pizzigoni & Partners
Deal News | Jul 09, 2025 | Finance Community IT - 1 Corporate M&A
Eprcomunicazione, a company involved in digital communication and public relations, has acquired a 51% stake in Cernuto Pizzigoni & Partners (CP&P) for an initial price of €200,275.39, determined after a due diligence process reviewing the latter's financial year ending December 31, 2024, with EBITDA noted at €130,889. This acquisition, paid through own funds, includes a post-closing negative price adjustment, and is set to be finalized by July 31, 2025. The strategic move boosts Eprcomunicazione's presence and capabilities in branding and advertising communication, particularly strengthening its foothold in Milan and the Northwestern Italian market. Legal and contractual assistance was provided by Lca Studio Legale and consultants Achille Saverio and Silvia Colombo for the buyers and sellers respectively. CP&P, since its founding in 2009, has been an integrated communications agency excelling in brand experience and omnichannel campaigns. Governance structures and non-compete clauses are part of the deal with further shareholder agreements including lock-up durations. CEO Luca Oliverio will maintain a strategic role post-acquisition, with commitments to operational stability over three years. This acquisition aligns with Eprcomunicazione's external growth strategy aimed at consolidating market position and enhancing value creation.
Sectors
- Communication and Public Relations
- Corporate Legal Services
Geography
- Italy – Both Eprcomunicazione and CP&P operate in Italy, and the acquisition enhances market position particularly in Milan and Northwestern regions.
Industry
- Communication and Public Relations – Eprcomunicazione and CP&P are involved in digital communication, public relations, advertising, and brand experience design, making this sector highly relevant to the article.
- Corporate Legal Services – Legal services played a crucial role in assisting the acquisition process, confirming their relevance to the transaction in the article.
Financials
- €200,275.39 – Initial provisional price for the acquisition of 51% of CP&P.
- €130,889 – EBITDA of CP&P as at December 31, 2024, used as reference for determining the acquisition price.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Eprcomunicazione | Acquiring Company | Company | A company active in digital communication and public relations, listed on Euronext Growth Milan. |
| Cernuto Pizzigoni & Partners (CP&P) | Target Company | Company | An integrated communication agency focused on brand experience design, founded in 2009 and based in Milan. |
| Luca Oliverio | Seller and CEO | Person | CEO and one of the sellers of CP&P, continues to have a strategic role after the acquisition. |
| Barbara Virginia Arioli, Massimiliano Trepiccione, Roberto Pace, Aldo Cernuto | Sellers | Person | Founding partners and sellers of CP&P. |
| Lca Studio Legale | Legal Advisor | Company | Provided legal and capital market advisory to Eprcomunicazione for the acquisition. |
| Achille Saverio and Silvia Colombo | Contractual Advisors | Person | Provided contractual advice to the sellers during the acquisition. |