SandpiperCI Group Limited (CISX:) agreed to acquire R. W. Randall Limited for £28.7 million on January 13, 2020. The consideration comprises of £28.5 million plus the interest payable as per the agreement. The consideration will be funded by drawing down of additional term loan facilities from HSBC Bank; and the net proceeds of the Placing of up to 20 million ordinary shares in the amount of £15 million. Randall reported moving annual total EBITDA for the 12 months ended September 30, 2019 as £2.835 million and net assets of £22.756 million. The transaction is subject to approval from shareholders of SandpiperCI and consent of The Channel Islands Competition and Regulatory Authorities. SandpiperCI received irrevocable undertakings from investors holding approximately 60% shares, supporting the transaction. Transaction is expected to complete by end of February 2020. The consideration will be used to discharge the net debt of Randall completion with the balance to be paid in cash from SandpiperCI to the Vendor on completion. SandpiperCI Group Limited (CISX:) cancelled the acquisition of R. W. Randall Limited on March 31, 2020.