The deal is structured with an initial consideration of £7 million plus the adjusted cash balance of Centrix, payable in cash at completion. Further deferred variable consideration of up to £3.5 million is payable in cash dependent upon the trading performance of Centrix in the 12 months post-acquisition.
"Evolution Capital's sector knowledge was vital to finding the right partner for AdEPT. Evolution Capital's transaction and industry experience added value throughout the acquisition process and their commitment helped us to achieve our overall goals and shareholder objectives," said Mr Ian Fishwick, CEO of AdEPT.
“We are pleased to have used our significant experience in the telecoms sector to play a part in this exciting transaction,” said Nigel Cook, Managing Director, Evolution Capital.