Palella Holdings Acquires Wash Out Srl from Telepass S.p.A.

• The family office, already a shareholder in Everli, enters the home vehicle care sector
• Continues its strategy of acquiring high-potential companies in the digital economy sector

MILAN--(BUSINESS WIRE)-- Palella Holdings, the family office of Salvatore Palella, has acquired the entirety of Wash Out Srl’s share capital from Telepass S.p.A. Wash Out, a Milan-based company with revenues exceeding €6 million, specializes in the comprehensive care and management of vehicles for both private individuals and businesses, leveraging digital platforms. Palella Holdings has also appointed Gianluca Spriano as CEO and Guido Consoli as General Manager of Wash Out Srl.

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(Photo: Business Wire)

The acquisition aims to lay the foundation for strengthening, restructuring, and relaunching Wash Out, which currently operates in Paris, Milan, Monza, Rome, and Turin, with a workforce of over 80 employees. Palella Holdings continues its strategy of acquiring high-potential companies in the digital economy, seizing opportunities arising from the profound transformation of the automotive sector. With an increasing number of vehicles arriving from other countries, the demand for innovative and customized vehicle care, maintenance, and management services is growing—an area where Wash Out aims to establish itself as a leader.

Founded in 2016 as a service for private customers, Wash Out was created to revolutionize the vehicle care sector by digitalizing the maintenance and cleaning experience, delivering services directly to customers' doorsteps.

The company distinguishes itself through the use of eco-friendly products, saving up to 160 liters of water compared to a traditional car wash while ensuring superior quality through manual application by highly specialized operators. With a sustainable approach, Wash Out manages corporate fleets and provides customized services for dealerships across Italy.

For the legal aspects of the transaction, Palella Holdings was advised by Deloitte Legal Italia, while DLA Piper assisted Telepass S.p.A.

Salvatore Palella’s Statement:

"This acquisition marks another important milestone in Palella Holdings' journey to acquire and relaunch promising companies strongly tied to innovation and digitalization. Wash Out perfectly aligns with these characteristics and also fits well with Palella Holdings’ expertise in mobility. In February 2024, we acquired Everli, Italy’s leading home grocery delivery operator, with revenues close to €100 million, and today we add another high-potential company to our portfolio," said Salvatore Palella. "Our collaboration with Telepass S.p.A. has been excellent, and I do not rule out further developments in the future."

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Press Contacts for Palella Holdings
Esclapon & Co.
Emidio Piccione
[email protected]
+39 366 62 83 807

Source: Palella Holdings

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