The AMA Group Limited announced the acquisition of Micra Accident Repair Centre Pty. Ltd., a collision repair business servicing the North Tasmania market. Having completed its due diligence the completion of the acquisition is scheduled to occur on January 4, 2016.
The purchase price includes an initial consideration of AU$2.0 million ($1.44 million), adjusted for any variations in working capital, including AU$500,000 ($360,000) of shares that will be subject to escrow. The purchase price also includes an “earn out” component which is capped at a maximum of four times the normalized earnings before interest and taxes (EBIT). The acquisition will