MPAC is acquiring the entire issued share capital of Boston Conveyor & Automation, Inc., (“BCA”), a US-based supplier of robotic automation and conveyor equipment for the Food, Life Sciences and general industry sectors, for a total of US$17m (£12.9m1). The purchase comprises US$11m in cash, sourced from the Group Revolving Credit Facility, plus US$6m from the issue of Mpac shares. The Group’s lender has agreed to increase the RCF by £5m to £25m, ensuring that the Group will continue to have a strong balance sheet with significant undrawn borrowing facilities available to fund its ongoing development and working capital.
Mpac Group: Equity Development
Sep 18, 2024Disclaimer & Declaration of Interest
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