EBOS raises A$250m to fund two bolt-on acquisitions

EBOS Group (NZX:EBO) is raising approximately A$250 million (NZ$272 million) via a placement and retail offer to fund two strategic acquisitions. The Group has acquired SVS Veterinary Supplies ("SVS") for NZ$115 million upfront plus an earn-out of up to NZ$10 million, representing a multiple of approximately 7x EBITDA. EBOS has also acquired the remaining 10% stake in Transmedic for A$35 million. The equity raising consists of a A$200 million underwritten placement and a non-underwritten retail offer targeting up to A$50 million. Excess funds will support future growth opportunities. EBOS reiterates its FY25 underlying EBITDA guidance of A$575 million to A$600 million, before any contribution from SVS. The acquisitions are expected to be low single-digit percentage EPS accretive in FY25 on a pro forma basis.