- Kontrol Technologies ( OTCQB:KNRLF ) has announced a letter of intent to acquire a building service and solutions company in Alberta, Canada.
- The business is a well-established service and solutions provider for a wide range of blue-chip customers. For the fiscal year ended April 30, 2022, unaudited financial statements, it generated $5.4M in revenue with a 73% gross margin and a normalized EBITDA margin of 20%.
- Kontrol Technologies ( OTCQB:KNRLF ) will pay $3.5M in cash at closing and $500K worth of common shares in the capital of the company. In addition, the deal includes a total earn-out of up to $750K over a three-year period.
- The earn-out is subject to achieving certain earnings targets.
- Subject to approvals and a definitive share purchase agreement, the transaction is expected to close by Dec 15, 2022.
For further details see:
Kontrol Technologies signs LOI to acquire Alberta building service firm