EBOS Group Limited entered into a binding agreement to acquire HPS Services Pty Ltd from Blue Sky Private Equity Ltd. and other sellers approximately AUD 150 million.

EBOS Group Limited (NZSE:EBO) entered into a binding agreement to acquire HPS Services Pty Ltd from Blue Sky Private Equity Ltd. and other sellers for approximately AUD 150 million on May 23, 2017. The transaction will be financed through debt. As part of the transaction, the key management of HPS Services will continue to operate the business.

The transaction is subject to certain conditions and is expected to complete by no later than June 30, 2017. The transaction is expected to increase the EBITDA of EBOS Group by at least 5% in the financial year 2018 and will be earnings per share accretive from year 1 of the acquisition. Goldman Sachs Australia Pty.

Ltd. acted as a financial advisor and Maddocks Inc. Pty Ltd. acted as a legal advisor to HPS Services Pty Ltd. Emin Altiparmak, Mark Malinas, Michael Park, Michael Graves, Rosannah Healy, Ric Morgan, Jonathan Hoe, Laura Miller, Karina Plain, Emily Rothfield, Leah Wickham and Emma Moore of Allens acted as legal advisors of EBOS Group Limited. Andrew Crook and Reuben van Werkum of Hogan Lovells acted as legal advisors to Partners Group.