SAUNDERS INTERNATIONAL LIMITED Saunders International Limited (ASX:SND) agreed to acquire the Business and Operating Assets of Piping Solutions for AUD 20 million on cash free and debt-free basis on November 8, 2023. The purchase of Piping Solutions will be funded from Saunders' cash reserves and the issue of new shares in Saunders. The initial installment of AUD 13.0 million will be paid in cash (AUD 6.50 million) and equity (AUD 6.50 million).
The second installment, subject to achievement of earn-out EBIT targets, will be paid in cash (50%) and equity (50%). The acquisition will be earnings per share accretive in FY2024.
