Curtis Banks has raised £25m (gross) new equity to fund two accretive and strategically valuable acquisitions – Talbot & Muir and Dunstan Thomas – diversifying the group’s sources of income. Initial consideration totals £38m – implying a c.6.5x FY20e EV/EBITDA multiple for both - to be funded using placing proceeds and renewed debt facilities. There is an additional c.£15m deferred contingent on profitability. The group will remain net cash positive (FY20e £13m). The acquisitions are expected to ....
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£25m placing to fund two accretive acquisitions
- Published:
24 Jul 2020 -
Author:
Andrew Watson -
Pages:
3
Curtis Banks has raised £25m (gross) new equity to fund two accretive and strategically valuable acquisitions – Talbot & Muir and Dunstan Thomas – diversifying the group’s sources of income. Initial consideration totals £38m – implying a c.6.5x FY20e EV/EBITDA multiple for both - to be funded using placing proceeds and renewed debt facilities. There is an additional c.£15m deferred contingent on profitability. The group will remain net cash positive (FY20e £13m). The acquisitions are expected to ....