Endurance Technologies Limited is divesting its wholly-owned Italian subsidiary, Veicoli Srl, through its step-down subsidiary, Endurance Overseas SpA. The sale is driven by a strategic decision to reallocate resources towards the core auto components business. The transaction, valued at approximately €2.5 million plus earn-out potential, is expected to be completed by July 1, 2026. Veicoli Srl specializes in fleet management software platforms.
Strategic Divestment in Italy
Endurance Technologies Limited has announced the sale of 100% of its shareholding in Veicoli Srl, an Italian company engaged in providing software platforms for the fleet management sector. The divestment will be executed through Endurance Overseas SpA, Italy, a wholly-owned subsidiary of Endurance Technologies. This strategic move aligns with the company’s focus on consolidating and growing its core auto components business.
Transaction Details
The agreement for the sale was entered into on June 23, 2026. The expected date for the completion of this transaction is July 1, 2026. The consideration for the sale includes an upfront fixed payment of €2.2 million and a deferred fixed payment of €0.3 million. Additionally, there is an earn-out component linked to Veicoli Srl’s financial results for the first three years post-completion, with a cap of €5.0 million.
Buyer Information
The buyer of Veicoli Srl is Banyan Software UK Limited, a UK-based corporate entity. It has been confirmed that the buyer does not belong to the promoter, promoter group, or any group companies of Endurance Technologies Limited. The transaction is structured as a share sale, not a slump sale.
Financial Impact of the Divestment
For the financial year 2025-26, Veicoli Srl reported a total income of Rs. 32.58 crore, which represents 0.22% of Endurance Technologies’ consolidated total income. As of March 31, 2026, Veicoli Srl’s net worth stood at Rs. 3.15 crore, accounting for 0.48% of the company’s consolidated net worth. The company has confirmed that this transaction does not fall within related party transactions and is conducted at arm’s length.
Company Website Update
Further details regarding this divestment are available on the company’s official website at www.endurancegroup.com.
Source: BSE
