Loomis AB (publ) (OM:LOOMIS) agreed to acquire Cima Spa from Milano Investment Partners Sgr for approximately ?150 million on July 18, 2023. The purchase price is on a cash and debt-free basis, plus a potential earnout. The initial purchase price amounts to ?132 million on a cash and debt free basis, with a potential earn-out of maximum ?17.5 million based on the EBITDA outcome for the financial year of 2024. The initial purchase price corresponds to an 8x EBITDA multiple based on the yearend 2022 financials. The total consideration, assuming full earn-out, of ?149.5 million is estimated to be below 8x EBITDA. The business will be reported within the SafePoint business line and consolidated into Loomis as of October 2023. The acquisition can be funded through available cash and existing credit lines. The management team of Cima will remain with the company in their current positions. In 2022 Cima Spa had revenue of approximately ?66 million. Closing is expected during the fourth quarter, subject to certain closing conditions.

Loomis AB (publ) (OM:LOOMIS) acquired Cima Spa from Milano Investment Partners Sgr on October 2, 2023.