Endúr ASA (OB:ENDUR) entered into a share purchase agreement to acquire Marcon-Gruppen I Sverige Ab from Jörn Ryberg and Cygnus Olor Ab for SEK 460 million on February 2, 2021. Under the terms of the share purchase agreement, Endúr will acquire 100 percent of the shares in Marcon based on an enterprise value of SEK 460 million, which corresponds to an equity value of SEK 400 million. The purchase price will be settled by SEK 260 million in cash and SEK 140 million in Endúr shares at a subscription price of NOK 1.3308 per share. The sellers have accepted lock-up obligations on the Consideration Shares vesting over a 24 months’ period. Endúr aims to finance the cash consideration with long-term debt in the form of bank or bond loans on competitive terms from one or more third parties. Endúr has issued a bond loan totaling NOK 1.10 billion that expires in 2025. It will be used for financing acquisitions of Norwegian supplier of aquaculture solutions Artec Aqua and Swedish marine engineering and consulting services Marcon Gruppen, as well as refinancing of existing debts. For the calendar year 2020, Marcon delivered revenues of SEK 441 million and an EBITDA-result of SEK 105.9 million. The two sellers and current management in Marcon will continue their roles in the company and become major shareholders in Endúr. Completion of the acquisition is subject to approval by the general meeting of Endúr and that Endúr has obtained sufficient financing of the cash part of the acquisition. The transaction is expected to be closed by end-March 2021. The transaction is expected to be closed on March 15, 2021. The transaction is priced at an LTM EV/EBITDA multiple of 4.3x, hence highly accretive for Endur's shareholders. Arctic Securities AS is acting as financial advisor and Sten Hedbäck, Eva Sundling, Natalie Bretz and Lisa Ericsson of Advokatfirman Törngren Magnell KB and Wikborg Rein & Co. is acting as legal advisor to Endúr in connection with the acquisition. Endúr ASA (OB:ENDUR) completed the acquisition of Marcon-Gruppen I Sverige Ab from Jörn Ryberg and Cygnus Olor Ab on March 12, 2021.