NBI Bearings Europe, S.A. (BME:NBI) entered into agreement to acquire Egikor, S.A., Industrias Betico, S.A., and Tallleres Ermua, S.L. for 5 million on September 23, 2016. Under the terms of the transaction, 60% of the consideration will be paid on closing, 20% within 12 months, and remaining 20% after 24 months from closing. The transaction is subject to due diligence.
Egikor, Industrias Betico, and Tallleres Ermua jointly reported revenues of 11.33 million and EBITDA of 1.43 million for the year ending December 31, 2015. CDI Global Iberia acted as financial advisor to Egikor, S.A., Industrias Betico, S.A., and Tallleres Ermua, S.L.