TPXimpact Holdings PLC (AIM:TPX) acquired Redcortex Ltd from Martin Britton and Martyn Matthews for £13.4 million on December 9, 2021. The total consideration is £13.355 million, with £6.355 million being satisfied in cash and £7 million being satisfied through the issue and allotment of 2,645,302 ordinary shares in TPXimpact. The cash portion of the consideration will be funded through the company's own cash reserves and an extension of its RCF facility with HSBC. After payment of the Consideration, the Company's net debt position will remain well below 1x EBITDA on a pro forma basis. The Acquisition is profitable and immediately enhances EPS for TPX impact. For the year ending August 31, 2021, RedCortex has delivered revenues of £4.5 million, an Adjusted EBITDA of £0.8 million and net profit after tax of £ 0.8 million. Alex Price, Fred Walsh of Stifel Nicolaus Europe Limited acted as nominated advisor to TPXimpact Holdings.
TPXimpact Holdings PLC (AIM:TPX) completed the acquisition of Redcortex Ltd from Martin Britton and Martyn Matthews on December 9, 2021.