Alcadon Group AB (OM:ALCA) agreed to acquire Networks Centre Holding Company Limited for £41.5 million.
Deal will be financed through existing cash in Alcadon and refinancing of existing loans of £10.5 million together with a new bank loan of £20.3 million with a term of 3+1 years. Following the acquisition, the current Group Managing Director, Duncan Lindsay, will assume the role of Senior Vice President UK within Alcadon Group, where he will also be part of Alcadon Group's management team. The current Sales Director, James Reid, will take over the responsibility as Managing Director of the Networks Centre Group. Networks Centre will remain an independent company within Alcadon Group in line with Alcadon's strategy of working with decentralized profit centers. NWC reported per end of June revenues of £42.6 million with an underlying EBITDA of £3.6 million for the last twelve months. NWC will be consolidated into Alcadon Group as of the Acquisition Date, which is scheduled for 17 August 2022.