Groclin S.A. (WSE:GCN) entered in an agreement to acquire CADM Automotive Sp. z o.o. from CADM AUTOMOTIVE 2 Sp. z o.o and Michal Laska for PLN 20 million in cash and stock on April 6, 2016.

The acquisition will be done in two tranches. Groclin S.A. will acquire 51% stake in CADM Automotive Sp. z o.o. for PLN 10.2 million on May 1, 2016.

The second stage of the acquisition is to take place after approving CADM Automotive Sp. z o.o.'s fiscal year 2017 financial statements. Groclin will pay seven times of CADM Automotive Sp.

z o.o.'s fiscal year EBITDA, but not less than PLN 9.8 million. The second tranche will be paid in 50% in cash and 50% in Groclin shares.