ALS Limited (ASX: ALQ) agreed to acquire a 49% stake in NUVISAN Gmbh for approximately €150 million on July 27, 2021. There is an exclusive ‘call' option to acquire the remaining equity from 1 January 2024 which expires by 30 September 2026 at the latest. Should this option be exercised, the remaining 51% equity in NUVISAN will be acquired at 13x adjusted EBITDA based on the 12 months preceding the purchase.

It will be funded from existing debt facilities. A joint Advisory Board of NUVISAN will be established and include the current management from NUVISAN and representatives from ALS which will advise on key operational and strategic decisions within NUVISAN. The transaction is subject to foreign control approval from local authorities and is expected to settle within 6 weeks.

The transaction is expected to settle within 6 weeks. The transaction is expected to close in 4th quarter of 2021. William Blair & Company, L.L.C. acted as exclusive financial advisor to NUVISAN GmbH.

Henrik Armah, Viola Bensinger, Laura M. Zentner, Carsten Kociok, Christoph Enaux, Holger Faust, Konradin Pleul, Martin Hamer and Irina Kuznecova acted as legal advisor to Greenberg Traurig, LLP.