Cie des Alpes: completes acquisition of 86.5% of Urban
The Group has also secured the acquisition of an additional 3.5% of the capital of Soccer
5 France held by Soccer 5 Evolution, the holding company of some of the Group's managers, with
the implementation of promises to sell.
As announced, Compagnie des Alpes will eventually own 86.5% of the capital of Groupe Urban's parent company.
Compagnie des Alpes thus becomes the majority shareholder alongside the managers/founders and management of the Urban Group, who remain shareholders in Soccer 5 France with a 13.5% stake.
This acquisition is based on an enterprise value of 157 million euros (for 100% of the capital) and a price of 129.7 million euros for 86.5% of the capital, with a potential earn-out of 10 million euros.
The balance (13.5%) may be bought back by Compagnie des Alpes within 4 to 5 years, using the same valuation method as for the 86.5% acquisition.
As a reminder, the Urban group expects sales for its 2023/24 financial year (ending June 30) to be around 48 million euros, with an estimated unaudited post-IFRS 16 EBITDA of around 21.5 million euros.
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