Acquisition 09:28 AM EST, 02/10/2022 (MT Newswires) -- Andlauer Healthcare Group Inc. (AND.TO) on Thursday said it has entered into a definitive agreement to acquire Logistics Support Unit Inc., or LSU, for about $30 million, subject to customary price adjustments.
The deal consideration will consist of $22.5 million in cash, to be financed through a combination of cash on hand and by drawing on the company's credit facilities, and $7.5 million in Andlauer's subordinate voting shares.
Andlauer expects the acquisition to be immediately accretive to cash flow and earnings per share. It expects the acquisition to close on or around March 1, subject to various closing conditions and stock-exchange approval.
The acquisition of LSU, a third-party logistics provider to the healthcare industry, will strengthen the company's service offerings and expand its presence in Quebec, said Andlauer CEO Michael Andlauer.