M&A · Industrials · Services-Educational Services
Learning Technologies Group plc to acquire GP Strategies Corp
Announced Jul 15, 2021 · Closed Oct 14, 2021
Deal value$394MEV $353M
Premium32.0%To unaffected price
EV / Adj. EBITDA12.5x0.8x EV / Revenue
ConsiderationAll cash$20.85 per share
Transaction
- Acquirer
- Learning Technologies Group plc
- Target
- GP Strategies Corp
- Buyer type
- Strategic
- Offer price per share
- $20.85
- Enterprise value
- $353M
- Status
- Closed Oct 14, 2021
Deal protections
- Break fee (target pays)
- $12.0M · 3.0%
- Reverse fee (buyer pays)
- $12.0M · 3.0%
- Go-shop
- No-shop
- Financing
- Committed · Goldman Sachs, Jefferies
Advisors
- To the acquirer
- Goldman Sachs
- To the target
- Jefferies
Sector context · Industrials
- Comparable deals
- 33 in the prior 24 months
- Premium
- 32.0% vs. 37.0% sector median
- EV / Adj. EBITDA
- 12.5x vs. 12.3x sector median
- Break fee
- 3.0% vs. 2.6% sector median
Timeline
- AnnouncedJul 15, 2021
- Proxy filedAug 11, 2021
- Definitive proxyAug 24, 2021
- Shareholder voteSep 28, 2021
- ClosedOct 14, 2021