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    IKG   IT0004552359

INTEK GROUP S.P.A.

(IKG)
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Paragon Partners GmbH signed an agreement to acquire Specials business of KME group from Intek Group S.p.A. for €280 million.

06/15/2021 EST

Paragon Partners GmbH signed an agreement to acquire Specials business of KME group from Intek Group S.p.A. (BIT:IKG) for €280 million on June 15, 2021. As per terms of transaction, The agreement, grants an exclusivity to Paragon for the negotiation of the final sale and purchase agreement pursuant to the terms agreed today, envisages the establishment of a company owned by Paragon at 55% and by KME at 45% to which the above-mentioned KME Specials business will be contributed. The transaction is financed by Paragon’s own/managed funds and a dedicated financing package provided by Hayfin Capital Management. As on December 31, 2020, Specials business of KME group reported revenue of €260 million and EBITDA of €44 million. The transaction is subject to the negotiation of the final agreement and to confirmatory due diligence on legal and tax aspects of minor foreign companies related to the business to be transferred. Proceeds of €60-80 million are intended for the reimbursement of intragroup working capital facilities plus a vendor loan in the amount of €32 million that will be reimbursed by the newly-established company. Closing of the transaction will be only subject to the merger control clearance by the German and Austrian competition authorities. Shearman & Sterling LLP, Investment Banking Arm acted as financial advisor to Intek group and KME Special Products GmbH & Co. KG.


ę S&P Capital IQ 2021
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Financials
Sales 2020 14,8 M 16,8 M 16,8 M
Net income 2020 4,52 M 5,12 M 5,12 M
Net Debt 2020 66,9 M 75,8 M 75,8 M
P/E ratio 2020 168x
Yield 2020 -
Capitalization 206 M 233 M 233 M
EV / Sales 2019 18,5x
EV / Sales 2020 15,3x
Nbr of Employees -
Free-Float 43,8%
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Managers and Directors
Vincenzo Ugo Manes Chairman & Chief Executive Officer
Giuseppe Mazza Administrative Director
Luca Ricciardi Independent Non-Executive Director
Francesca Marchetti Independent Director
Diva Moriani Executive Vice Chairman
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