ADDvise Group AB (publ) (OM:ADDV A) signed a Letter of Intent to acquire Zevex Physical Evaluation for $7.3 million on December 22, 2021. ADDvise Group AB (publ) (OM:ADDV A) entered into a share purchase agreement to acquire Zevex Physical Evaluation on March 3, 2022. The purchase price totaled $7.3 million, divided into an initial payment of $4.5 million, and two potential earn-outs of maximum $1 million for 2022 and $1.2 million for 2023 respectively, given that the seller achieves certain predetermined targets. The purchase price also includes an interest free promissory note of $0.6 million with 24 months maturity. The acquisition is financed through own funds.

The revenue for the last twelve months per June 30, 2021, amounted to approximately $3.3 million, with an EBITDA of approximately $1.1 million. The acquisition is subject to a due diligence and that the parties will agree to enter into a share purchase agreement. The share purchase agreement and completion of the acquisition is scheduled to be completed during Q1, 2022. As of March 3, 2022, the transaction is expected to close by March 3, 2022. The transaction is expected to have a positive impact on ADDvise earnings per share during the financial year 2022. Mangold Fondkommission AB (OM:MANG) acted as the financial advisor to ADDvise Group AB.