MCG Global Limited acquired DCB (Kent) Limited from Kinovo plc (AIM:KINO) for £5 million on January 12, 2022. Under the terms of the consideration, £1.9 million will be payable on the successful completion of current projects, most of which are due in the calendar year 2022, £2.1 million will be payable on trade settlements relating to these current contracts and £1 million payable as earnout amount subject to DCB achieving £3 million profit before tax in 2023 and 2024 respectively. For the year ended March 2021, DCB generated revenues of £20.82 million and delivered an operating profit of £0.26 million. Canaccord Genuity Hawkpoint Limited acted as nominated financial advisor to Kinovo plc.

MCG Global Limited completed the acquisition of DCB (Kent) Limited from Kinovo plc (AIM:KINO) on January 12, 2022.