Milan, 1st March 2024 – The YARD REAAS Group, leader in Italy in real estate consultancy and integrated management of real estate services, has completed the acquisition of the entire share capital of Tecnit@lia Group S.r.l. (hereinafter “Tecnit@lia”), a company specialised in retail and corporate real estate valuations and technical due diligence activities for banking groups.
The operation, in line with YARD REAAS' expansion strategy, is part of an investment program aimed at the growth and positioning of the Group as a market leader in the Real Estate sector in Italy and abroad, with the aim of offering even more innovative services and responding effectively to the dynamics of a market – specifically the valuation one – that is increasingly demanding in terms of integration of specialised skills, technological capacity and process efficiency.
Following the acquisition of Tecnit@lia, a company that for over twenty years has been offering technical/valuation services to credit institutions in line with the requirements defined by the Bank of Italy, the Italian Banking Association (ABI), and the International Valuation Standards (IVS), the Group, which reaches a consolidated turnover of more than 50 million euros, further strengthens the Valuation Division – already articulated in the Corporate, Retail, and Distressed areas - which will thus be able to rely on an even more widespread presence throughout the national territory thanks to a network of over 1000 certified appraisers.
“I am pleased to announce this acquisition, which represents a further step in the Group's already announced growth strategy for internal and external lines, both in Italy and abroad” explains Emanuele Bellani, CEO of YARD REAAS. “The solutions offered by Tecnit@lia represent an important complement to what is already offered by our Group, and I strongly believe that the combination of know-how and human resources of the two companies will guarantee YARD REAAS the opportunity to strengthen its leadership position in valuation services, expanding the portfolio of banking Clients”.
Maurizio Iccardi, founder and CEO of Tecnit@lia, commented: “Tecnit@lia was established in 2002 as the first Italian company specialised in real estate appraisals, with the aim of offering our clients the highest level in terms of quality of technical and valuation services. Since then, we have come a long way and today we believe that YARD REAAS is the ideal partner to explore new development opportunities. We are embarking on this new journey together with great enthusiasm.”
