Gordon Dadds Group plc (AIM:GOR) acquired White & Black Legal LLP for £3.4 million on January 16, 2018. Under the terms of consideration Gordon will pay £1.718 million on completion, £0.25 million in mid-2018, £0.50 million in mid-2019, £0.45 million in mid-2020 and Up to £0.52 million on realization of White & Black's debtors and work in progress at October 31, 2017. Payment of mid-2019 and mid-2020 will be reduced on a £ for £ basis if certain profit targets are not met. White & Black has net cash of approximately £1 million. Gordon has an option to acquire the remaining A shares between three and four years after completion. Transaction will be funded from existing cash resources. White & Black will continue to operate as a separate business from London and Oxfordshire under its well established name. For the year ended October 31, 2017, White & Black achieved unaudited EBITDA of £0.85 million and a profit before tax of £0.66 million. Transaction is expected to be significantly earnings enhancing for the first full year, to March 31, 2019. John Llewellyn-Lloyd and Ciaran Walsh of Arden Partners plc (AIM:ARDN) acted as financial advisors to Gordon. Gordon Dadds Group plc (AIM:GOR) completed the acquisition of White & Black Legal LLP on January 16, 2018.