Ramirent Oyj (HLSE:RAMI) signed an agreement to acquire Stavdal AB from Hammarviken Företagsutveckling AB for approximately €160 million on April 8, 2019. Under the terms, Ramirent will pay €124 million in cash and will transfer 5.85 million of its own shares to the sellers of Stavdal. Ramirent signed a €75 million syndicated term loan facility agreement with Danske Bank A/S, Nordea Bank Abp and OP Corporate Bank plc to finance the acquisition. In 2018, Stavdal had a revenue of €79 million, an adjusted EBITDA of approximately €28 million and EBIT of €14 million. The EV/EBITDA-multiple of the transaction is 5.6x. Stavdal currently employs approximately 280 rental professionals who will join Ramirent as per closing of the transaction. Mats Rydhede, the founder of Stavdal, is proposed to be elected as a member of Ramirent's Board of Directors for a term continuing until the end of the next Annual General Meeting, subject to Ramirent’s shareholder approval. The transaction is subject to customary closing conditions and an approval from competition authorities. As of June 19, 2019, the transaction is approved by Swedish Competition Authority. The closing is expected to take place at the latest by the end of Q3 2019. The acquisition is expected to be strongly cash-generative and the estimated cumulative free cash flow from the deal in 2020-2023 is €50-70 million.