Alimak Group AB (publ) (OM:ALIG) entered into an agreement to acquire Tractel S.A.S. from Cinven Capital Management (V) General Partner Limited for €500 million on a cash and debt free basis on August 2, 2022. The acquisition is financed through a long-term facility of €300 million and a bridge loan facility from Svenska Handelsbanken. Tractel will from the start continue to operate under its existing brands and be reported as a new division within the Alimak Group. The purchase price corresponds to an EV/EBITDA multiple of 10.3x based on Tractel's EBITDA during the period of 12 months ending on June 30, 2022. Tractel reported revenue of €201 million, with an EBITDA margin of 24% during the period of 12 months ending on June 30, 2022. The transaction is subject to customary regulatory and competition authority approvals as well as the shareholders of Alimak Group authorizing the Board of the company to resolve on the Rights Issue. The transaction is expected to close in during the fourth quarter 2022. The transaction is expected to be EPS accretive from the full year 2024. Handelsbanken Capital Markets is acting as financial advisor and Hugo Sanchez de la Espada, Léna Sersiron and Johanna Federspiel of Baker & McKenzie A.A.R.P.I. acted as legal advisor to Alimak Group AB. Manfred Noé and Bastien Deroch of CLARIS Avocats acted as legal advisor to Cinven Capital Management (V) General Partner Limited. Arielle Ohayon-Cohen, Julie Givernaud, Sjoerd Van Mierlo, Emily Davis de Courcy of PwC Société d'Avocats and Arnaud Thibésart, Erwan Colder, Olivier Lorang, Yun Wang, Hélène Farouz, Navaz Djadaoudjee, Frédéric Spielrein and François-Xavier Bornet provided financial, tax and pension due diligence to Alimak Group. Laurent Schoenstein, Raphaël Durand, Alice Declercq, David Tayar, Hendrik Coppoolse, Cécile Zoro, Anne-Sophie Laird, Pierre-Benoit Pabot du Châtelard, Guilhem Dardoize, Charles-Henri Boeringer and Alice Dunoyer de Segonzac of Clifford Chance advised Cinven on the transaction, as well as Luxembourg, New York and Frankfurt offices were also involved. Wardynski & Partners along with Roschier law firm and the Arendt law firm also advised on the sale.

Alimak Group AB (publ) (OM:ALIG) completed the acquisition of Tractel S.A.S. from Cinven Capital Management (V) General Partner Limited on November 21, 2022.