£££££s 🔥🔥11 Feb 2026 11:46
The disposal values ICA at an upfront enterprise value of £30.45 million, around 10 times its FY25 unaudited adjusted EBITDA, with CEPS to receive fully de-risked cash consideration of £14 million, including £1.27 million for loan note repayment. CEPS plans to use about £4.95 million to clear all external debt and deploy the remaining proceeds into bolt-on deals in existing subsidiaries, increasing its stakes and potential share buy-backs, and because irrevocable commitments exceeding 50% of the share capital support the transaction, the shareholder resolution approving this fundamental change of business is effectively assured.