Huntsworth plc (LSE:HNT) acquired 70% stake in Creativ Ceutical S.À R.L. from Avicenne Invest S.A. on May 21, 2019. The consideration consists of an initial cash consideration on closing of €15.5 million, together with two tranches of deferred consideration payable: the first in 2020 based on EBITDA for the year to December 31, 2019; and the second in 2021 based on a multiple of EBITDA for the two years ending December 31, 2020, both pro-rata for the 70% equity stake. The initial cash consideration will also be subject to adjustment for working capital and net cash as at completion. The business will sit within Huntsworth’s Medical division and will continue to be led by founder Pr Mondher Toumi. In a related transaction, Huntsworth plc acquired 85% stake in Kyne Communications, LLC and Kyne Communications Limited from David Kyne and his wife Jacqueline Kyne together with associates for an initial cash consideration of $17.4 million (€15.6 million). Huntsworth successfully placed raising gross proceeds of £16.3 million (€18.6 million) to part-fund the acquisitions, with the balance approximately £12 million (€13.7 million) to be funded from existing debt facilities. CC generated revenues of c. €10.6 million and operating profits of c. €4.1 million in the year to December 31, 2018. Creativ Ceutical's gross assets were c. €16.4 million as at December 31, 2018. The Group expects the acquisition and the placing together to be accretive. Angharad Couch, Nick Reading and Elizabeth Kittle of Citigate Dewe Rogerson Ltd., Nick Westlake, Matt Lewis and Will Baunton of Numis Corporation Plc and James Serjeant and David Poutney of Dowgate Capital Stockbrokers Limited acted as financial advisors for Huntsworth. Huntsworth plc (LSE:HNT) completed the acquisition of 70% stake in Creativ Ceutical S.À R.L. from Avicenne Invest S.A. on May 21, 2019.