LandMark White Limited (ASX:LMW) entered into an agreement to acquire MVS National Valuers Pty Ltd for AUD 35 million on April 12, 2017. As per the terms of agreement AUD 16 million will be paid in cash and AUD 7.3 million will be paid by issue of shares. The transaction also includes earn out payment of AUD 11.7 million which will be paid in shares. LandMark White Limited will fund the acquisition through a total capital raising of AUD 20.5 million. This is planned to be undertaken via private placement at AUD 0.60 per share to raise AUD 10 million to institutional and sophisticated investors and a concurrent non-renounceable 3 for 5 pro rata offer to raise up to AUD 10.5 million. MVS National Valuers entities will transition to LandMark White Limited branding and LandMark White Limited will not change its name as a result of the transaction. The merged company will operate throughout Australia. MVS National reported revenue of AUD 28.9 million and profit after tax of AUD 4.6 million for the year ending, December 31, 2016. The transaction is subject to approval by the shareholders of LandMark White, LandMark White Limited raising a minimum of AUD 16 million to fund the acquisition and third party approval. The meeting of the shareholders of LandMark White is scheduled on May 24, 2017. If the conditions are not satisfied or waived by June 30, 2017, the agreement may be terminated by either party. The transaction is expected to close on May 31, 2017. The transaction is significantly EPS accretive and is expected to create substantial cost synergies between the two businesses. Enrizen Capital Pty Ltd acted as financial advisor for LandMark White and received 0.97 million shares as a consideration for its services. Con Boulougouris, Daniel Scotti and Nick Kipriotis of MinterEllison acted as legal advisor to MVS National Valuers. Allier Capital Pty Ltd acted as financial advisor to MVS National Valuers and Hall & Wilcox Lawyers acted as legal advisor to LandMark White. LandMark White Limited (ASX:LMW) completed the acquisition of MVS National Valuers Pty Ltd on May 31, 2017.