Alcadon Group AB (publ) (OM:ALCA) signed an agreement to acquire Lewralos Limited from Keith Mahony and Derek Finlay for ?13 million on March 6, 2024. The purchase price on a cash and debt-free basis amounts to ?10.1 million, of which up to 25% of the purchase price is paid through a new issue of shares in Alcadon to the Sellers by way of an issue-in-kind upon closing, which is expected to take place on 2 April 2024, and the remainder will be settled in cash. A conditioned based purchase price of a maximum of ?2.9 million may be paid if certain conditions are met during the period up until and including three years after closing, which part of the additional purchase price can be paid through a set-off issue, subject to the approval of the general meeting. The acquisition will be financed through a combination of cash and shares in Alcadon and bank facilities. The main part of the bank facility is short-term and intended to be used to refinance existing cash position in Wood Communications, which will be settled shortly following closing date. The acquisition includes taking of Wood Communications Ltd. Following the acquisition, Keith Mahony, Managing Director, and Derek Finlay, Sales Director, will become significant owners of Alcadon Group. Wood Communications will continue to operate an independent company within the Alcadon group in line with Alcadon?s strategy of working with decentralized business units with synergy potential. The transaction is expected to take place on 2 April 2024. L.K. Shields, Solicitors acted as legal advisor to Alcadon Group AB (pub)

Alcadon Group AB (publ) (OM:ALCA) completed the acquisition of Lewralos Limited from Keith Mahony and Derek Finlay on April 2, 2024. Gemma Forde and Clara Eccles of LK Shields advised Alcadon Group AB on the transaction.