Brief: Skako Acquires Spanish DARTEK

Investeringsselskabet Af 3. November 2025 A/S

15/11/2019 07:20

Nov 15 (Reuters) - Skako A/S  SKAKO.CO :
    * SAID ON THURSDAY ACQUIRES SPANISH PRODUCER OF VIBRATORY
HANDLING
AND PROCESSING EQUIPMENT, DARTEK, THROUGH UNIT SKAKO VIBRATION
    * WILL ACQUIRE 100% OF SHARES IN DARTEK FOR EUR 3.3 MILLION
    * FURTHER, AGREEMENT CONSISTS OF AN EARN-OUT ELEMENT BEING
REALIZED UNTIL END OF DEC 2021 WHICH AT TARGET IS EUR 0.9
MILLION DEPENDING ON PERFORMANCE
    * TOTAL PAYMENT CONSISTS OF SEVEN TIMES AVERAGE EBITDA FOR
YEARS
2019 THROUGH 2021; AVERAGE EBITDA FOR THIS PERIOD IS CURRENTLY
EXPECTED TO BE EUR 0.6 MILLION
    * PAYMENTS WILL MATURE WITH EUR 1.1 MILLION ON SIGNING, EUR
1.1
MILLION BY END OF 2020, EUR 1.1 MILLION BY END OF 2021
    * EARN-OUT ELEMENT WILL MATURE WHEN FINAL AVERAGE EBITDA FOR
YEARS
2019 THROUGH 2021 HAS BEEN ESTABLISHED IN START OF 2022
    * SKAKO WILL FINANCE ACQUISITION THROUGH ITS OPERATING CASH
FLOW
AND EXISTING CREDIT FACILITIES
    * AGREEMENT WAS CLOSED ON 14 NOVEMBER 2019
    * FOR FINANCIAL YEAR 2018, DARTEK GENERATED A REVENUE OF EUR
4.2
MILLION AND EBITDA OF EUR 0.4 MILLION EQUAL TO AN EBITDA MARGIN
OF 9%
    * ACQUISITION WILL NOT HAVE ANY MATERIAL IMPACT ON EXPECTED
EARNINGS FOR SKAKO FOR 2019, WHICH REMAINS AT AN OPERATING
PROFIT (EBIT) OF DKK 17 TO 20 MILLION
    * ACQUISITION IS A RESULT OF NEGOTIATIONS ANNOUNCED IN APRIL
 urn:newsml:reuters.com:*:nASP0010JA

    
 Source text for Eikon:  urn:newsml:reuters.com:*:nGNE3x8ysN
 Further company coverage:  SKAKO.CO  
   


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