NBI Bearings Europe, S.A. entered into agreement to acquire Egikor, S.A., Industrias Betico, S.A., and Tallleres Ermua, S.L. for €5 million.

NBI Bearings Europe, S.A. (BME:NBI) entered into agreement to acquire Egikor, S.A., Industrias Betico, S.A., and Tallleres Ermua, S.L. for €5 million on September 23, 2016. Under the terms of the transaction, 60% of the consideration will be paid on closing, 20% within 12 months, and remaining 20% after 24 months from closing. The transaction is subject to due diligence.

Egikor, Industrias Betico, and Tallleres Ermua jointly reported revenues of €11.33 million and EBITDA of €1.43 million for the year ending December 31, 2015. CDI Global Iberia acted as financial advisor to Egikor, S.A., Industrias Betico, S.A., and Tallleres Ermua, S.L.