LONDON: Inchcape plc has agreed to acquire Autolider, a distributor of Daimler brands, for £47 million. The enterprise value of £47 million represents a multiple of c.8.5x on 2018 EBIT. Completion is expected in Q4 and will therefore contribute minimal profit to FY19. Inchcape is the leading independent multi-brand Automotive distributor with global scale, and…
Tag: acquisition
Oatey acquires certain assets of Keeney Manufacturing Company
CLEVELAND–(BUSINESS WIRE)–Oatey Co., a leader in the plumbing industry, has acquired certain assets of The Keeney Manufacturing Company based in Newington, Connecticut. The transaction includes Keeney’s plastic injection molding operation in Winchester, New Hampshire; its distribution facilities in Buford, Georgia and Sparks, Nevada; and the stock of Keeney’s two international subsidiaries, Tubular Industries of Canada…
Ambertech Limited to acquire Audio Visual Division of Hills Limited
SYDNEY, AUSTRALIA: Ambertech Limited has reached an agreement to acquire the Audio Visual (AV) Distribution business of Hills Limited. The acquisition, which is subject to certain conditions and final approval by Ambertech shareholders, is expected to complete in mid December 2019 and includes the Hills AV businesses in Australia and New Zealand. Under the agreement…
South32 sells interest in South Africa Energy Coal
PERTH: South32 Limited has entered into a binding conditional agreement for the sale of 91.835% shareholding in South32 SA Coal Holdings Proprietary Limited (South Africa Energy Coal, SAEC) to a wholly-owned subsidiary of Seriti Resources Holdings Proprietary Limited (Seriti) and two trusts which will acquire and hold equity on behalf of employees and communities. Subject…
Commerzbank publishes voluntary public acquisition offer for comdirect
FRANKFURT: Commerzbank AG published the offer document relating to the voluntary public acquisition offer for all the outstanding shares of comdirect bank Aktiengesellschaft. Commerzbank already holds around 82 percent of the shares in comdirect. The other 18 per cent are in free float. The aim is to merge comdirect into Commerzbank so as to draw…
Begbies Traynor acquires Alexander Lawson Jacobs Limited
LONDON: Begbies Traynor Group announced the acquisition of the entire issued share capital of Alexander Lawson Jacobs Limited (ALJ), a London-based insolvency and business recovery practice. ALJ is a well-established firm and is ranked as a top 20 UK insolvency practice (by insolvency appointments). The team of 24 directors and employees will join the group…
CLS Holdings completes acquisition of Pacific House in Reading
LONDON, UK: CLS Holdings announces that it has completed the acquisition of Pacific House in Reading, a 57,086 sq. ft (5,303 sqm) multi-let office building, for £14.9 million excluding costs. The acquisition has a net initial yield of 7.3%. The building, which is located to the south of Reading, is 92% let to 7 tenants…
LXi REIT announces acquisitions worth £23 million
LONDON: The Board of Directors of LXi REIT, the specialist inflation-protected long income REIT, announced long-let, index-linked acquisitions for a combined total investment of approximately £23 million. These Acquisitions are being funded by the Company’s new Revolving Credit Facility (RCF), announced on 22 July 2019. The Company is also in solicitors’ hands on additional acquisitions…
Signature Fabrics acquires Milano International Limited
LONDON: CEPS Plc’s subsidiary company, Signature Fabrics Limited has acquired 90 percent of the issued share capital of a newly incorporated company, Milano International Holdings Limited, which has been formed to acquire 100 percent of the issued share capital of Milano International Limited, trading as Milano Pro Sport, for a consideration of £1.85 million. The…
Polypipe Group acquires Alderburgh Group for £14 million
LONDON: Polypipe Group plc, a leading provider of sustainable water and climate management solutions for the built environment, today announced the acquisition of the Alderburgh Group of companies for a total cash consideration of £14 million on a cash and debt free, normalised working capital basis. Alderburgh is a leading designer, manufacturer and installer of…
TerraX Minerals to acquire Gold Matter Corporation
VANCOUVER: TerraX Minerals Inc. has entered into an agreement with Gold Matter Corporation, a private closely-held corporation, whereby the Company will acquire all of the shares of Gold Matter in exchange for 5 million shares of the Company on a one-for-one basis, resulting in former shareholders of Gold Matter holding approximately 4% of the issued…
Calix accelerates US market entry with acquisition of IER
SYDNEY, AUSTRALIA: Multi-award-winning Australian technology company Calix Limited has entered into a binding agreement to acquire 100% of US-based Inland Environmental Resources (IER) and successfully completed a placement of $12 million to cover both the cost of the acquisition and additional capital for accelerating US market expansion. Calix has entered into a binding agreement to…