SMW Group Limited (NZSE:SMW) entered into a conditional agreement to acquire Sarina Crane Hire for AUD 35.8 million on April 27, 2021. The purchase price includes an upfront payment at completion and contingent consideration as follows, upfront cash consideration AUD 18.6 million, issue of SMW Group shares of AUD 9.6 million. Total upfront consideration will be AUD 28.2 million. In addition to the upfront consideration, maximum contingent consideration of AUD 7.6 million is payable on the following conditions being met, contingent consideration of a maximum of AUD 3.8 million is payable subject to the acquired business achieving EBITDA based on the agreed purchase multiple for a 12 month period following completion. This contingent consideration will be payable within four months of the end of the 12-month calculation period and is payable in cash. Further contingent consideration of a maximum of AUD 3.8 million is payable subject to the acquired business outperforming the agreed EBITDA multiple for a 12-month period following completion. The further consideration will be prorated up to the maximum amount. This contingent consideration will be payable within four months of the end of the 12-month calculation period and will be paid in a combination of cash (70%) and shares (30%) in the same proportions as the upfront payment. The issue of shares will be based on the 30-day VWAP on the completion of the agreement of the EBITDA calculation. The transaction is subject to regulatory approvals being obtained, SMW Group completing due diligence investigations, if required under applicable law or the listing rules, the approval of SMW shareholders and SMW Group entering new debt facilities to finance the acquisition.