Fiera Milano Strengthens Position with Stipa Acquisition
Milan, February 18 – Fiera Milano, a company listed on Euronext STAR Milan and active in the exhibition and congress sector, has signed a binding agreement for the acquisition of 51% of Stipa. Stipa is an Italian leader in the design and construction of high-end customized exhibition stands, also active in corporate event fittings and the retail and showroom segments. The transaction is valued at approximately €12.1 million, to be paid on the closing date and subject to a price adjustment mechanism based on the net financial position.
Details of the Acquisition
The acquisition values 100% of Stipa at an Enterprise Value of approximately €23.8 million. The agreement also includes option mechanisms for the eventual acquisition of the remaining shares held by the current shareholders, exercisable in multiple subsequent time windows. The transaction will be financed through available cash resources and is expected to be completed in the first quarter of 2026.
Strategic Importance for Fiera Milano
This operation represents a further step in the implementation of Fiera Milano’s 2024-2027 Strategic Plan. It aims to strengthen Fiera Milano’s positioning as an integrated service provider and expand its presence in the market for customized stands and related services. This move supports the Group’s evolution towards a one-stop-shop model of services for exhibitors and visitors.
Francesco Conci, CEO of Fiera Milano, commented on the acquisition: “The operation with Stipa represents a strategic step in the transformation of Fiera Milano into an increasingly complete platform capable of accompanying customers throughout the entire process of participating in an event. It is not just about expanding the scope of activities, but about enriching the quality and depth of our proposal, integrating distinctive skills in the design and creation of high value-added spaces.”
Positive Outlook and Strategic Plan Execution
Conci further added: “The operation is part of the execution of the 2024-2027 Strategic Plan, which is progressing positively: the solid organic performance and the growing visibility on events in the last quarter lead us to believe that a potential exceeding of the 2025 guidance expectations is reasonable. The improving trend also lays the groundwork for a solid start in 2026, also supported by the positive performances related to the activities of the Milan Cortina Winter Olympics.”
About Stipa
Founded in 1967 and active in the exhibition fitting sector since the 1990s, Stipa forecasts a production value of approximately €15 million for 2025, with an EBITDA of about €3 million and an EBITDA margin of around 20%, which is among the highest in the fitting sector. The company also has a positive net financial position (net cash) of approximately €2.5 million.
Source: https://www.borsaitaliana.it/borsa/notizie/teleborsa/finanza/fiera-milano-acquista-il-51-di-stipa-per-121-milioni-di-euro-e-accelera-sui-servizi-integrati-101_2026-02-18_TLB.html
