PRESS RELEASE

BEST UNION COMPANY ACQUIRES 100% OF IREC

- Best Union Company SpA acquires a 100% interest in IREC, a French company with a turnover of EUR 9.8 million, an EBITDA of EUR 1.0 million, and a net profit of EUR 0.4 million in 2013.

- The transaction value is EUR 4.8 million, plus an earn out depending upon the improvement of future results.

- Through the acquisition of IREC, the Group consolidates a strong presence on the French market, becoming an important player in the areas of culture and entertainment. For Best Union Company, France represents the second largest market in terms of revenues.

- The Group is now in a position to achieve in 2014, two years in advance, the revenue target set in the Strategic Plan for the 2016.

Bologna, May 23rd, 2014 - On May 22nd, 2014 Best Union Company SpA, a listed company on the Italian Stock Exchange, acquired a 100% interest in the capital of IREC, a French company based in Poitiers and with a sales office in Paris, a joint-venture in China, and partners in Ivory Cost and Morocco. The company, owned by the holding I. Finance, is specialized in technologies for ticketing and access control in the fields of culture and entertainment.
The company achieved in 2011 a turnover of EUR 8.2 million, in 2012 a turnover of EUR 9.5 million, and in 2013 a turnover of EUR 9.8 million. The Net Financial Position as at December 31st, 2013 was close to zero, and the company presented a factoring line of EUR
0.9 million.
Here below are reported 2013 main financials of IREC derived from the Annual Financial
Statements of the company:

Data '000 Euro

% of Revenues

Revenues 9.771

EBITDA 1.037

EBIT 555

10,6%

5,7%

Net result 586 6,0%

The deal value has been defined as follows:
- At the closing date, a fixed amount of EUR 4.8 million less the net financial position at closing - calculated as defined by the parties;
- At the end of 2014 and 2015, on the basis of approved Financial Statement, an earn out could be paid, linked to the improvement of the economic results.
The Best Union Group already operates in France through its subsidiary Best Union France and is responsible for the management of the access control platform and ticketing services of the Louvre Museum, the Auditorium of Paris and the Museum Delacroix.
Through the IREC acquisition the Best Union Group will increase its presence in the ticketing industry in France becoming a leading player in the markets of culture, entertainment and sport.
Indeed, IREC is one of the leading providers of a number of important customers in the French market including the Centre des Monuments Nationaux, the Centre George Pompidou, the theme parks Puy de Fou and Marineland as well as numerous municipalities and several hundred clients in the France.
The transaction is based on a strategic plan that consists of the merger of the activities of the two groups in France and effective industrial synergies were identified; the project was jointly developed with Erick Tomaszek, the current President and CEO of IREC, and controlling shareholder of the I. Finance, which will continue to operate with the Company as a managing director.
In particular, the profile of the two groups, which have strong synergies in terms of commercial strength and technology, have a significant opportunity to improve the penetration into the French market and operating margins.
The entire acquisition was financed by long-term loans granted to the same amount by Cariparma Gruppo Crédit Agricole and Unicredit for a maximum total amount of € 5 million.
Luca Montebugnoli, Best Union Group's Chairman and CEO comments: "With the acquisition of IREC the Best Union Group continues its international growth strategy, significantly strengthening its presence in the French market, considered one of the key territories for business development. The Group is now able to preside through its offices, managers, and staff with direct management of customers in markets such as the U.S., UK, France, Singapore and the UAE, in addition to Italy, its country of origin.
Thank to this acquisition, we believe that the group can achieve two years in advance the revenues target which was expected to be achieved in 2016, defined in 50 million euro, and definitively acquires a leading international role within its sector; this is a crucial aspect of the group in the approach with
large groups operating in the entertainment sector which are increasingly looking for strong partners, technologically advanced and able to assist the clients in all the areas of the world".
Erick Tomaszek, Ceo of IREC, comments: "We consider Best Union the ideal partner to ensure continuity and development of the major project that we have planned for the French market. The combination of, technologies and customers of the two groups will allow us to offer to the market innovative and high quality solutions for the customers, and to ensure excellent national and international perspectives to all our current staff".
Best Union was assisted by Marco Polo Advisor as financial advisor, by M advisor as legal advisor and by Ernst & Young France as tax and accounting consultant.
Under the applicable regulations, the acquisition will be published in due time within a
Prospetto Informativo pursuant to art. 71 Regolamento Emittenti.
***
This press release is available on corporate website www.bestunion.com

Best Union Company SpA, Bologna-based company established in 1999 and listed on the Stock Exchange in 2008, is one of the leading companies in the design, production, marketing and management of electronic ticketing systems and access control and the management and organization of care facilities and safety in the events. Best Union Company is the only company able to offer as integrated most of the hardware and software systems and services necessary for the performance of sporting events, exhibitions, entertainment in general and the operation of amusement parks.

For more information:

Best Union Company S.p.A. Investor Relations

Francesco Sponziello

Phone cell. +39 392 7246251

ir@bestunion.it

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