STPG – SCOUTING CAPITAL ADVISORS WITH VDA IN THE ACQUISITION OF THE MAJORITY SHARES OF TELKONET
Milan January 13, 2022 – VDA Group S.p.A. (“VDA”), an Italian multinational operating in the field of Room Management Systems (GRMS) for the Hospitality market, has acquired 53% of the shares of Telkonet Inc. (“Telkonet”) through a capital increase of USD 5 million.
The transaction will allow VDA and Telkonet, a U.S. company listed on the OTC market and operating in the field of Energy Management Systems (EMS), to create a Group capable of positioning itself as the largest global player in hospitality automation reaching the optimal size to be able to compete in a market currently lacking leadership, as well as strengthen and extend the position of the two companies with a strong focus on sustainable growth and a unique geographical positioning (Europe, USA, Middle East and Asia).
VDA was assisted in the transaction by STPG, through Scouting Capital Advisors, and by Blitzer, Clancy & Company as financial advisors.
STPG – Scouting Capital Advisors acted with a team formed by Managing Director Dino Orlandini, Executive Director Roberto Francani and Associate Director Richard Pratissoli. The team of Blitzer, Clancy & Company was led by Managing Partner Michael Blitzer and Director Michael Cocce.
VDA was also supported by Moses & Singer LLP and Gianni & Origoni as legal advisor and Tax Funaro and Co. as tax advisor.
This transaction represents a further demonstration of the ability of STPG – Scouting Capital Advisors to intervene in cross-border operations, as well as the ability to execute complex transactions in highly competitive financial markets and in fast-growing sectors. In the transaction, assistance was provided to the management of VDA in the search for the U.S. target and accompanied the same in the execution and completion of the entire transaction.