Jones Day advised Amadeus FiRe AG, Frankfurt.
Amadeus FiRe AG has concluded a purchase agreement for 100% of the shares in COMCAVE Holding GmbH, Dortmund, which is expected to be completed today, 19 December 2019. COMCAVE is a leading provider of adult education. The company is active in the field of occupational re-training and advanced vocational training at over 50 locations in Germany.
The company’s Management Board expects COMCAVE to generate revenues of around EUR 60 million in the 2019 financial year with an EBITDA margin (preparation of financial statements in accordance with HGB) of above 25%.
For the Amadeus FiRe Group, the acquisition of COMCAVE represents an important step towards countering the current bottleneck in personnel services, namely the increasing shortage of qualified personnel.
The purchase price for COMCAVE and the repayment of COMCAVE’s existing financial liabilities totalling around EUR 200 million will be financed from the company’s cash and cash equivalents and a bridge loan of around EUR 170 million. The Management Board is currently reviewing all long-term financing options.
The dividend policy of a full distribution pursued in recent years will be reviewed within the framework of the various financing options.
The Jones Day team was led by Markus Weber (Picture) and Paul Melot De Beauregard.
Law Firms: Jones Day;
Clients: Amadeus FiRe AG;