M&A · Industrials · Services-Help Supply Services
CSP Management Limited to acquire Startek, Inc.
Announced Oct 10, 2023 · Closed Jan 5, 2024
Deal value$217MEV $217M
Premium32.0%To unaffected price
EV / Adj. EBITDA7.6x0.9x EV / Revenue
ConsiderationAll cash$4.30 per share
Transaction
- Acquirer
- CSP Management Limited
- Target
- Startek, Inc.
- Buyer type
- Strategic
- Offer price per share
- $4.30
- Enterprise value
- $217M
- Status
- Closed Jan 5, 2024
Deal protections
- Break fee (target pays)
- $1.9M · 0.9%
- Reverse fee (buyer pays)
- —
- Go-shop
- No-shop
- Financing
- No financing condition
Advisors
- To the acquirer
- Not disclosed
- To the target
- Houlihan Lokey
Sector context · Industrials
- Comparable deals
- 75 in the prior 24 months
- Premium
- 32.0% vs. 50.0% sector median
- EV / Adj. EBITDA
- 7.6x vs. 10.9x sector median
- Break fee
- 0.9% vs. 2.9% sector median
Timeline
- AnnouncedOct 10, 2023
- Proxy filedNov 3, 2023
- Definitive proxyDec 13, 2023
- Shareholder vote—
- ClosedJan 5, 2024
Valuation · fairness opinions
Trading comparables$2.66$4.52
Trading comparables$2.57$4.38
Trading comparables$2.77$4.68
Precedent transactions$3.59$6.35
Discounted cash flow$3.19$4.85
Offer $4.30
Implied value per Startek, Inc. share by analysis · DCF discount rate 11%–13%.