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Law Debenture acquires Eversheds Sutherland company secretarial unit for £20m
StockMarketWire.com
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Legal services company Law Debenture said it had acquired the company secretarial unit of Konexo UK, a division of Eversheds Sutherland International, for £20 million in cash.
The acquisition complements Law Debenture's existing company secretarial offering, building on its existing sector knowledge and expertise.
Under the terms of the acquisition agreement, Law Debenture had agreed to acquire the business on a cash and debt free basis.
For the financial year ended 30 April 2020, Eversheds Sutherland's Konexo UK secretarial unit recorded revenues of £6.2 million, estimated earnings before interest, tax, depreciation, and amortisation, or EBITDA, of £2.2 million
Completion of the acquisition was expected by the end of January 2021.
Story provided by StockMarketWire.com
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