TCM Group A/S (CPSE:TCM) entered into an agreement to acquire Aubo Production A/S for DKK 225 million on June 19, 2023. The purchase price for the shares in Aubo will, on a debt free basis, amount to DKK 165 million plus potential earn-out payments linked to the performance of the company going forward. Assuming all targets in the earn-out agreements are met, the total purchase price will amount to in total DKK 225 million. Aubo Production's Net sales in 2022 were DKK 292 million. As part of the acquisition agreement the sellers of the company will issue a vendor note for a part of the sales price as well as accept payment in form of shares in TCM Group amounting to DKK 10 million. The shares will be issued in connection with the closing of the transaction. The remaining cash payment will be financed by a bank credit facility. The management of Aubo Production A/S will remain in place after the transaction, and the production in the facilities in Aulum will continue in full operation. The transaction is expected to close shortly.

TCM Group A/S (CPSE:TCM) entered into an agreement to acquire Aubo Production A/S on June 26, 2023.