Aquirian Limited (ASX:AQN) entered into a binding agreement to acquire the business and assets of Cybem Mechanical Services Pty Ltd for an enterprise value of AUD 3 million on April 27, 2022. the consideration represents an enterprise value of AUD 3 million before customary purchase price adjustments. The acquisition will be fully debt funded utilising a new debt facility being established with the National Australia Bank (NAB). Aquirian will retain the experienced and well-respected Cybem leadership along with the employees. The Acquisition is expected to be completed by the end of May 2022.
Aquirian Limited (ASX:AQN) completed the acquisition of the business and assets of Cybem Mechanical Services Pty Ltd on May 31, 2022. The acquired business will be trading under the name of Cybem Services Pty Ltd, a 100% owned subsidiary of Aquirian. As of April 3, 2023, Aquirian issued and allotted 561,777 fully paid ordinary shares as the first tranche of Vendor retention shares to be issued to the operations management of Cybem associated with the acquisition.