DPA Group NV (ENXTAM:DPA) agreed to acquire Fagro Consultancy BV from the management team for €9 million in cash on August 18, 2014. The agreement involves an earn-out, which will be paid both in cash and stock, depending on Fagro's EBITDA targets in 2014, 2015 and 2016. DPA will use the proceeds from a share issue to largely finance the takeover sum which will be paid at closing (issuance of 4.5 million shares). The existing management will remain responsible for the successful further development of Fagro as a unit of DPA.

Fagro generated revenues of €20 million in 2013 and was profitable. The deal is expected to be accretive to DPA's earnings per share (EPS) in 2014. Wilbert van Gerwen & Pjotr van Deursen of Rabobank acted as a financial advisor to the management of Fagro Consultancy. Alcap BV acted as a financial advisor to DPA Group NV. Luc Habets, Diederick de Boer, Femke Prins, Annick Bredero of Lexence acted as the legal advisor for DPA Group. Ernst & Young acted as accountant to DPA Group NV.

DPA Group NV (ENXTAM:DPA) completed the acquisition of Fagro Consultancy BV from the management team on August 29, 2014.