FW Thorpe Plc (AIM:TFW) acquired 80% stake in SchahlLED Lighting GmbH for €14.6 million from Active Capital Company B.V. on September 23, 2022. FW Thorpe has paid an initial consideration of €14.6 million and could pay an additional amount to be determined by SchahlLED's EBITDA performance in the year ending 30 June 2023. The initial consideration has been funded from the Company's existing cash reserves, these reserves and the cash generated from SchahlLED over the next few years will fund the purchase of the remaining share capital in the future. During the last financial year ending December 31, 2021, SchahlLED achieved revenues of €15.9 million with EBITDA of €2.8 million. Net assets a were €3.5 million. The senior management team will remain in the business and report directly to the board of Thorlux Lighting. Steve Pearce and James Moat of Singer Capital Markets Securities Limited acted as financial advisor to FW Thorpe. Hübner Schlösser & Cie acted as financial advisor to SchahlLED Lighting GmbH. Jane Evans, Steffen Eube, Moritz Theis, Paul Jouy, Paul Le Buhan, Rolf Schöbrodt and Julia Hoffmann of BDO acted as financial advisor to FW Thorpe in the transaction. Mauritz von Einem, Christof Alexander Schneider, Donata Lasson, Benjamin Bandur and Nora Meyer-Stratmann of ARQIS acted as legal advisor of Active Capital and Thorsten Schumacher and Konstantin Michelsen of BDO Legal acted as legal advisor of FW Thorpe.

FW Thorpe Plc (AIM:TFW) completed the acquisition of 80% stake in SchahlLED Lighting GmbH from Active Capital Company B.V. on September 23, 2022.