Accrol Group Holdings plc (AIM:ACRL) entered a conditional agreement to acquire Leicester Tissue Company Ltd for £41.8 million on November 2, 2020. This will comprise initial consideration of £35 million at the deal's completion and up to a further £6.8 million deferred consideration due in 2021. Contingent on LTC achieving up to £3.1 million incremental EBITDA contribution on revenue generated from certain new contracts between March 2021 and the end of June 2021 (with the opportunity to extend this period up to the end of September 2021 in the event of any delay in respect of one specified contract), Accrol Group Holdings plc will pay the Deferred Consideration of £6.8 million to the LTC Vendors, which will be satisfied in cash and/or by the issue of new Ordinary Shares. Accrol Group Holdings plc intends to finance the consideration for the transaction and Associated Costs of approximately £3.5 million via a conditional placing of new Ordinary Shares at a price of £0.44 per Ordinary Share with institutional and other investors to raise approximately £38.5 million. Transaction is subject to only admission of shares on London Stock Exchange. Completion is scheduled on November 25, 2020. The transaction is expected to be immediately earnings enhancing. Dan Bate, Jordan Warburton, Dominic King and John Goold, Jordan Warburton and Kieran Russell of Zeus Capital Limited, Clayton Bush and Edward Thomas of Liberum Capital Limited, Andrew Westbrook and Chris Nicholls of Deloitte & Touche Corporate Finance UK Limited acted as financial advisors to Accrol Group Holdings plc.