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Amplifon to acquire GAES group

- 06:57 Financial

Transaction highlights:

  • Consolidates Amplifon’s global leadership position with the acquisition of the largest privately-owned specialty retailer worldwide
  • A unique opportunity for Amplifon’s growth strategy in the core Spanish market thanks to a highly recognized brand and the most extensive network
  • Significant value creation and synergy potential, making a positive contribution to EPS already from the first year
  • The deal will be financed with a new financing facility resulting in a pro-forma Net Debt/EBITDA of 3.4x (based on 2017 figures; Amplifon EBITDA as reported)
  • Closing of the transaction is expected by the end of Q4 2018

 

Milan, July 24th, 2018. Amplifon S.p.A. (“Amplifon” or the “Company”; MTA; Bloomberg ticker: AMP:IM), global leader in hearing solutions and services, announces today that it has signed a definitive agreement for the acquisition of GAES Group (“GAES”) from the Gassó family and from other minority shareholders. The equity value to be paid in cash amounts to Euro 528 million, with a net financial position expected to be around zero.

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Amplifon to acquire GAES group