- THE TRANSACTION CONTRIBUTES €16 MILLION IN REVENUES, €1.1 MILLION IN EBITDA AND 85 EMPLOYEES TO THE GROUP
- RT&L STRENGTHENS ITS PRESENCE AT THE MAIN LOGISTICS HUBS IN THE NORTHERN TYRRHENIAN AREA AND FURTHER ENHANCES ITS COMPETITIVE POSITIONING IN THE CUSTOMS BROKERAGE BUSINESS LINE
- €7 MILLION ENTERPRISE VALUE, EQUIVALENT TO APPROXIMATELY 6X LANDs GROUP EBITDA
- ANTHILIA CAPITAL PARTNERS SGR FINANCES THE PROJECT
Below is the press release, available in PDF format.
Genoa, 10 September 2026
RT&L S.p.A. (“RT&L” or the “Company“), the parent company of the Group bearing the same name, active in global logistics services with a strong presence in strategic markets and a broad offering of integrated solutions in the customs brokerage and freight forwarding sectors, listed on the Euronext Growth Milan segment of Borsa Italiana, announces that, as of today, it has completed the acquisition of 100% of LandS S.r.l., a holding company heading a group comprising six companies specialising in ancillary services to maritime traffic (the “LandS Group”).
The entry of LandS into the Group perimeter, together with the six companies headed by it – Sattemar, Spedizionieri Internazionali Marittimi, Cismar, Navalia, STM Servizi Trasporto Marittimo and Blue Shipping Yachting Logistics – accelerates RT&L’s positioning among Italy’s leading independent groups in the customs brokerage segment and enhances the Group’s offering with complementary, high-margin services ranging from customs operations to port forwarding activities, and from maritime agency and brokerage services to international freight forwarding.
Through this transaction, the RT&L Group significantly expands its geographical and operational presence across the main logistics hubs of the Northern Tyrrhenian area, strengthening its presence in the Port of Genoa and the Rivalta Scrivia Interport and extending its coverage to the ports of Savona-Vado, La Spezia and Livorno, as well as Pisa Airport. The presence across these hubs enables the Group to operate along strategic routes through which approximately 75% of Italy’s national freight traffic passes, consolidating its position along the main routes of Italian and international logistics.
The acquisition of LandS significantly accelerates RT&L’s growth, contributing €16 million in revenues, approximately €1.1 million in EBITDA and 85 highly skilled professionals, while also ensuring management continuity on the part of the sellers, a key element for fully realising the value of the industrial project.
The execution of the binding agreement announced on 31 July 2026 provided for an Enterprise Value of €7 million as consideration, plus the payment for the cash-positive Net Financial Position (“NFP”), estimated at €3 million. This valuation, which remains subject to an adjustment mechanism (see the press release dated 31 July 2026), reflects an EV/EBITDA multiple of 6x and is significantly accretive compared with the current market multiples expressed by RT&L.
The transaction was largely supported by financing provided by Anthilia Capital Partners SGR S.p.A., which supported RT&L in the transaction, backing the Group’s growth path and the industrial value of the acquisition.
Upon the transfer of the shareholding, the new Board of Directors of LandS was appointed. The former shareholders will remain fully involved in the company’s operations, ensuring business continuity and the transfer of expertise in support of the integration project. Gerardo Ghiliotto, former majority shareholder of LandS, remains Chairman of the Board of Directors, while Roberto Bizzarri assumes the role of Chief Executive Officer
Roberto Bizzarri, Chief Executive Officer of RT&L, commented: «We are very pleased to have completed this important transaction and look with great confidence to the new phase now opening for RT&L. We are confident that the integration of RT&L’s and LandS’s expertise and professionals will create value for both organisations. Management continuity and the strong complementarity of our businesses provide a solid foundation for developing synergies and jointly building the Group’s next chapter, to the benefit of our shareholders and all stakeholders who have believed in the project».
In connection with the acquisition, RT&L was assisted by Integrae SIM S.p.A. as Euronext Growth Advisor, MG LAW Studio Legale for legal matters, EY S.p.A. for financial matters, Studio Piana Illuzzi Queirolo Trabattoni for tax matters, and Avv. Andrea Schenone and Dott. Michele Tixi for payroll matters.
In connection with the financing, legal and contractual matters were handled by MG LAW Studio Legale on behalf of RT&L, while Anthilia was assisted by L&B Partners Avvocati Associati S.T.A. S.p.A. ARTHA Corporate Finance Advisory S.r.l. STP handled the financial and accounting aspects, while notarial matters were handled by Studio Associato dei Notai Ugo Bechini e Martina Bastianutti.
LandS was assisted by VSL Club as financial advisor, Pedersoli Gattai for legal matters and Studio Murialdo for tax, financial and payroll matters.
For further details on the reverse take-over transaction, please refer to the press releases dated 31 July 2026 and 8 September 2026, as well as to the Information Document prepared pursuant to Article 14 of the Euronext Growth Milan Issuers’ Regulations, available on the Company’s website, www.rtlproject.com, under Investor Relations > Reverse Take-over Transaction>, and on the website of Borsa Italiana S.p.A., www.borsaitaliana.it, under Shares > Documents>.
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For the dissemination of regulated information, the Issuer uses the 1INFO dissemination system (www.1info.it) managed by Computershare S.p.A., with registered office in Via Lorenzo Mascheroni 19, Milan.
>This press release is available on the website www.rtlproject.com, Investor Relations section > Press Releases and on www.1info.it.
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RT&L S.p.A. is the Italian company at the head of the RT&L Group, specialising in international logistics and freight forwarding solutions, with an established presence across the main strategic global markets. The Group provides customised services for the management of goods and complex projects, ensuring a flexible and high value-added approach. The Group’s activities are organised into three main Business Lines: Customs Brokerage, Project Cargo & Chartering, and General Cargo. In the 2025 financial year, on a pro forma basis, the Group generated a Value of Production of Euro 10.6 million and an EBITDA of Euro 2.7 million. Net Financial Position was cash positive at Euro 5.3 million, while Shareholders’ Equity amounted to Euro 14 million.
Contacts
Issuer
RT&L | Investor Relations Manager | Eleonora Bonifazio | investor.relations@rtlproject.com | T: 010 4717199 | via Bacigalupo 4, 16122 Genova, Italy
Euronext Growth Advisor & Specialist
Integrae SIM | info@integraesim.it | T: +39 02 80506160 | Piazza Castello 24, 20121 Milano
