• Raised EUR 16.5m from exit, almost 9x its investment
• Has a pipeline of targets, could close deals this year
• Looks to buy Italian AI and digital marketing scale-ups

Italy’s Rocket Sharing Company, an online marketplace focused on the sharing economy, is strongly acquisitive after divesting its 51% stake in Stantup Services, Chief Executive Luigi Maisto told Mergermarket.

The sale proposal was “impossible to refuse” as the deal valued Stantup Services at more than EUR 30m, representing a return of nearly 9x Rocket Sharing’s initial EUR 1.8m investment and “fully validat[ing]” its investment thesis, Maisto said.

The company announced on 21 May that it had sold its interest in Stantup Services to Mexedia, an Italian benefit corporation, for a total consideration of EUR 16.5m.

All the proceeds of the sale will be deployed in M&A, Maisto said. Rocket Sharing’s primary objective is now to replace the revenues generated by Stantup Services through new acquisitions, he said.

The company has identified a pipeline of suitable candidates, part of an “aggressive” M&A strategy, and is “at a good point” with some of the targets, he said. While M&A talks are unpredictable, some closings could be possible this year, he added.

The company sources deals internally, but also welcomes opportunities presented by advisors, Maisto said.

Rocket Sharing is specifically targeting Italian technology scale-ups operating in the digital marketing space and in which AI plays an active role, Maisto said. Ideal targets have moved past the early-stage start-up phase, validated their business models, and achieved positive EBITDA, he added.

The focus is on specialists in AI-driven marketing activities, and providers of tech-enabled solutions, he said. Of specific interest are companies capable of developing proprietary AI agents for small and medium-sized enterprises to automate marketing and social media management, he said.

Providers of B2B technologies to optimise corporate operations – including loyalty programmes, digital and social media marketing, and lead generation – could also fit the bill, he added.

Rocket Sharing’s management take a disciplined approach to evaluating targets, he said, noting that it is looking for companies generating revenues between EUR 1m and EUR 10m via recurring revenue models.

“Our goal is to accelerate the growth of these companies and increase profitability,” he said.

Future transactions will be financed through share swaps involving Rocket stock and dedicated capital increases, Maisto said, adding, however, that deals will be evaluated on a case-by-case basis.

To support larger transactions, the company could bring in co-investors, including private equity and debt funds; or use club deals led by entrepreneurs it is close to, he said.

Maisto, Chief Strategic Officer Daniele Viganò, and CFO Alberto Ferlin founded the company in 2019, since when it has been focused on developing an innovative marketplace platform, he said.

Rocket Sharing Company started trading on the Milan Bourse in 2022. Its free float is 53.82%, and its market cap is EUR 8.46m at the end of 5 June.