Recticel SA/NV (ENXTBR:REC) entered into final agreement to acquire Trimo d.o.o. for an enterprise value of approximately €160 million on March 22, 2022. This represents a 9.5x 2021A normalized EBITDA multiple. The transaction is subject to customary conditions precedent, including regulatory approvals. Financing is secured by the existing credit facilities, and ultimately by the proceeds from the disposals of the Bedding and Engineered Foams business lines, expected to close respectively at the end of 1Q2022 and around mid-2022. The closing of the transaction is expected to be completed in the third quarter of 2022.

Recticel SA/NV (ENXTBR:REC) completed the acquisition of Trimo d.o.o on April 29, 2022.