Brief: Hexatronic Signs Agreement To Acquire Fibron From Rubicon Partners

Hexatronic AB

28/06/2023 11:07

June 28 (Reuters) - Hexatronic Group AB  HTRO.ST :
    * HEXATRONIC SIGNS AN AGREEMENT TO ACQUIRE FIBRON FROM
RUBICON
PARTNERS AND STRENGTHENS ITS POSITION IN HARSH ENVIRONMENTS
    * ESTIMATED ENTERPRISE VALUE AMOUNTS TO GBP 32 MILLION
    * STRATEGIC ACQUISITION ALLOWS FOR ADDITIONAL
DIVERSIFICATION OF
HEXATRONIC'S BUSINESS AND INCREASED OPPORTUNITIES WITHIN HARSH
ENVIRONMENT MARKETS
    * PURCHASE PRICE CORRESPONDS TO A FIXED ENTERPRISE VALUE OF
GBP 25
MILLION
    * POTENTIAL EARN-OUT OF UP TO GBP 7 MILLION BASED ON
FIBRON'S
ACCUMULATED EBITDA FOR FULL YEAR OF 2023
    * PROPOSED ACQUISITION WILL BE FULLY FINANCED THROUGH
EXISTING
CREDIT FACILITIES FROM DANSKE BANK AND SEB
    * AFTER COMPLETION OF TRANSACTION, HEXATRONIC'S PROFORMA NET
DEBT
IS EXPECTED TO AMOUNT TO 1.5 TIMES PROFORMA EBITDA
    * ACQUISITION HAS NO SIGNIFICANT IMPACT ON HEXATRONIC'S
EARNINGS

Source text for Eikon:  ID:nGNE8SPVvg 
Further company coverage:  HTRO.ST 

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