Il Cellularline groupleader in Europe in the smartphone and tablet accessories sector, has announced the acquisition of 60% of the share capital of Peter Jackel Communications Systems GmbH (Peter Jäckel GmbH), an important German player operating in the smartphone accessories sector.
Cellularline thus strengthens its presence in Germany
Peter Jäckel GmbH, con sed in Alfeld, has been operating successfully on the German market for over 25 years and thanks to its entry into the Cellularline Group it will be able to benefit from an expansion of the range of products and services and new synergies of an operational and financial nature. Both companies will also enjoy development opportunities.
Furthermore, this acquisition will allow the Cellularline Group to operate in a more structured way in Germaniawhich currently represents the most important European market of smartphone accessories, thus accelerating the long-term growth strategy on international markets.
The acquisition of 60% of the share capital of Peter Jäckel GmbH cost the Cellularline Group 3.05 million euros, paid at the close of the deal. During the first half of 2023, following the approval of the 2022 financial statements of Peter Jäckel GmbH, any price adjustment will be paid.
This possible adjustment will be determined on the basis of an adjustment mechanism that takes into account the net financial position he was born in final net working capital Of year end.
The 3.05 million euros were financed through the use of a credit line exclusively intended for M&A transactions, signed with Banco BPM S.p.A. e Intesa Sanpaolo SpA..
The role of Peter Jäckel GmbH in Cellularline
The entrepreneur-founders of Peter Jäckel GmbH will keep their role and will work alongside Cellularline’s management to achieve ambitious growth targets on the German market.
Furthermore, Cellularline has agreed on a incremental valuation mechanism to be activated during the three-year period 2023-2025, during which the parties will have the right to exercise options Put&Call on the minority shareholding (equal to 40%), divided into two tranches.
The amount to be paid for each tranche will be calculated taking into account the economic and financial parameters recorded by Peter Jäckel GmbH during the years 2024 and 2025. The exercise of these options could allow Cellularline to acquire a stake that reaches up to 100% by 2025.
To find out more about the Cellularline Group, please click on the following link.