Arbonia AG (SWX:ARBN) acquired Cirelius, S.A. from Proinveste, SGPS, S.A. and Casaplus - Sistemas De Energia, Lda. on December 5, 2022. Arbonia takeover all of Cirelius' activities, including the approximately 60 employees, and Arbonia will carry customer relationships with existing contacts and ongoing projects can continue smoothly. The acquisition will be financed from available funds and will have a positive impact on Arbonia's earnings per share already in the 2023 financial year before possible synergies. The EV/EBITDA multiple underlying the transaction is approximately 6x, based on the EBITDA for 2021 and the forecast EBITDA for 2022 before synergies. Cirelius generated revenue of approximately €20 million for the year ended 2021. Ernst & Young AG acted as Due Diligence Provider to Arbonia AG (SWX:ARBN). Francisco Espregueira Mendes and Nuno Marques of Telles de Abreu e Associados acted as legal advisor to Proinveste and Casaplus.

Arbonia AG (SWX:ARBN) completed the acquisition of Cirelius, S.A. from Proinveste, SGPS, S.A. and Casaplus - Sistemas De Energia, Lda. on December 5, 2022.