AB Dynamics Plc (AIM:ABDP) acquired Kangaloosh Limited from Christopher Hoyle, Elaine Grimwood and Image Space Investments LLC for £21.6 million on June 28, 2019. The transaction has been completed on a debt free basis for an initial cash consideration of £18.1 million with a conditional cash payment of up to £3.5 million subject to certain performance criteria being achieved for the year ending January 2021. The initial cash consideration will be provided from AB Dynamics's existing resources. Based on unaudited accounts, in the year ended January 31, 2019 Kangaloosh generated sales of approximately £4.2 million and normalized operating profit of £1.3 million. Christopher Hoyle will remain with the business in a marketing role and to support the transition period. The transaction will be earnings enhancing in the first year following acquisition. Tony Rawlinson, Liam Murray and Richard Nash of Cairn Financial Advisers LLP acted as financial advisors to AB Dynamics. Nigel Le Bas, Will and team of Grant Thornton Corporate Finance acted as financial advisors to Kangaloosh shareholders. Pinsent Masons acted as legal advisor to AB Dynamics Plc. AB Dynamics Plc (AIM:ABDP) completed the acquisition of Kangaloosh Limited from Christopher Hoyle, Elaine Grimwood and Image Space Investments LLC on June 28, 2019.