Endurance Technologies Sells Italian Subsidiary Veicoli Srl for up to €7.5M

Endurance Technologies Ltd announced the sale of its wholly-owned step-down subsidiary in Italy, Veicoli Srl, to Banyan Software UK Limited. Veicoli, engaged in fleet management software platforms, contributed 0.22% to the company's consolidated income and 0.48% to its net worth in FY26. The divestment aligns with Endurance Group's strategic focus on its core auto components business. The sale consideration includes an upfront payment of €2.2 million, a deferred payment of €0.3 million, and an earn-out of up to €5.0 million linked to future financial results. The transaction is expected to be completed by July 1, 2026, and does not involve related parties.