Kin & Carta has announced the acquisition of Spire Digital for an initial consideration of $14.8m (8x EBITDA), alongside a placing of £13.6m (9.9% of share capital, at last night’s closing price). The company expects the deal to be earnings enhancing in the first full year of ownership with the balance sheet leverage to be broadly unchanged. Although Spire’s revenues amount to ~6% of the existing KCT group, at a 13.8% adj. op. margin on net revenues (vs. KCT 13.4% in FY1
22 Nov 2019
$14.6m acquisition (8x EBITDA) in West Coast adds to growth story
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$14.6m acquisition (8x EBITDA) in West Coast adds to growth story
Kin and Carta Plc (KCT:LON) | 130 0 0.0% | Mkt Cap: 230.4m
- Published:
22 Nov 2019 -
Author:
Kunal Walia -
Pages:
3
Kin & Carta has announced the acquisition of Spire Digital for an initial consideration of $14.8m (8x EBITDA), alongside a placing of £13.6m (9.9% of share capital, at last night’s closing price). The company expects the deal to be earnings enhancing in the first full year of ownership with the balance sheet leverage to be broadly unchanged. Although Spire’s revenues amount to ~6% of the existing KCT group, at a 13.8% adj. op. margin on net revenues (vs. KCT 13.4% in FY1