The acquisition strengthens Lindbergh’s presence in Waste Management and supports the development of operational and industrial synergies.
Pescarolo ed Uniti (CR), November 13th, 2025 – Lindbergh S.p.A. (EGM: LDB), a Group providing services in the MRO (Maintenance, Repair & Operations), HVAC (Heating, Ventilation, and Air Conditioning), and Circular Economy sectors, announces today the closing of the acquisition of the business unit of SDS Service Srl, a Lombardy-based company primarily operating in the province of Milan in the collection, transport, and recovery of industrial waste.
The business unit consists of:
▪ Active contracts with customers.
▪ Active service contracts with suppliers.
▪ Ten employees (warehouse staff, drivers and administrative/commercial staff).
▪ Vehicles and equipment used to carry out waste collection and management operations at the plant.
▪ Authorisation for the storage and treatment of special, hazardous and non-hazardous waste, issued by the Metropolitan City of Milan, within the buildings in use.
As of 31 December 2024, the acquired assets generated revenues of approximately €1.6 million, with an estimated EBITDA of approximately €250,000, also considering operational efficiencies and the new organisation of the business, which will be managed directly within the Waste Management/Circular Economy BU with immediate effect.
The purchase price for the business unit is €1,200,000 (including goodwill and assets such as vehicles, plant and equipment), which will be paid as follows:
▪ €450,000, paid in cash today, upon signing the deed of transfer of the business unit.
▪ €700,000, to be paid in six quarterly instalments (the first five of €133,000 and the last of €35,000) by 30 June 2027.
▪ The severance pay, estimated at approximately €50,000, will be covered by Lindbergh.
Furthermore, by 28 February 2026, the purchase of the properties currently used by SDS Service, owned by the long-standing shareholders of SDS Service, is planned. These buildings are subject to waste recovery and management authorisations issued by the Metropolitan 4 City of Milan, which is why it is strategically essential to own them. The purchase price of the real estate assets has been set at €550,000.
Andrea Allegrini, Director of the Circular Economy business unit, commented on the new acquisition: “This transaction represents a further step in consolidating the Waste Management/Circular Economy business unit, contributing to the strengthening of our service offering and ensuring continuity in the circular economy sector. The integration of SDS Service’s activities will promote the development of operational synergies and contribute to greater management efficiency, including with regard to the historical activities already managed by Lindbergh”.
The Transaction does not qualify as a significant transaction pursuant to Article 12 of the Euronext Growth Milan Issuers’ Regulations.