Service Stream Limited (ASX:SSM) entered into a binding agreement to acquire Comdain Infrastructure Pty Ltd for approximately AUD 170 million on a cash and debt free basis on December 3, 2018. As per terms of the consideration, Service Stream Limited will pay AUD 93.7 million in cash and will issue approximately 40.2 million new Service Stream Limited shares at completion. The consideration is subject to adjustments at and post completion for tax liabilities, net cash and movements in working capital. The cash consideration will be funded through a combination of cash on hand and bank borrowings of AUD 60 million. The consideration equates to FY19F EV/EBITDA multiple of 7.4x Following the completion, Tom Coen, chairman of Comdain Infrastructure Pty Ltd, will join Service Stream Limited as a non-executive director. Peter Coen will remain in his current role as the head of Comdain Infrastructure’s operations and COO Jim Gaha to remain in place and supportive of the transaction. The transaction is subject to the satisfaction of number of conditions precedent. The transaction is expected to be 11.3% EPS accretive in fiscal year 2019. The transaction is expected to complete on either January 2, 2019 or February 1, 2019. Sam Prentice and Andy Hubbard of Rothschild acted as financial advisor and King & Wood Mallesons, Australia Branch acted as legal advisor to Service Stream Limited. Service Stream Limited (ASX:SSM) completed the acquisition of Comdain Infrastructure Pty Ltd on January 2, 2019. As per the terms of transaction, all the conditions have been satisfied.