LONDON, UK: CentralNic Group plc (AIM: CNIC), the worldwide web platform company, has accomplished the acquisition of VGL Verlagsgesellschaft mbH, Berlin, Germany and its subsidiaries from its former shareholders, a bourse submitting mentioned.
VGL has been acquired for an enterprise worth of EUR 60 million, with an preliminary consideration of EUR sixty seven million (approx. US$75 million) inclusive of customary changes for money and dealing capital. The Acquisition is anticipated to be double digit earnings enhancing for the monetary year ending 31 December 2022, previous to any synergies being realised.
The acquisition has been financed by an oversubscribed placing to institutional investors, elevating gross proceeds of £42 million, at a fixed price of 120 pence per share.
The Placing has been complemented by an issue of additional senior secured callable bonds for a nominal worth of EUR 21 million under its existing senior secured bond, listed on Oslo Børs, at a price of 100.8% of par value.
The Bond Issue was subscribed for by Macquarie Principal Finance Pty Ltd, UK Branch, on the identical phrases and conditions as CentralNic’s existing bond issue.
FT 1000: Europe’s Fastest Growing Companies
In its 2022 edition, Financial Times has listed CentralNic amongst the many top-250 fastest-growing companies and amongst the many top-50 fastest-growing Technology companies in Europe. CentralNic has loved a compound growth rate of 73% over the previous 7 years, since its AIM IPO, taking it from $4m in revenues to over $400m. In 2021, CentralNic’s natural growth was 39%, contributing to an overall 71% income growth.
Ben Crawford, CEO of CentralNic, said: “We are delighted to see that CentralNic Group has been recognised as one of Europe’s fastest-growing companies. Joining forces with VGL, a main milestone on the road to becoming a world-leading on-line services marketplace, will allow us to proceed to ship our excellent growth efficiency in 2022 and beyond.”
www.centralnicgroup.com