Decisive Dividend Acquires European-based Hearth Business
Decisive Dividend (DE.V), up 3.7% on last look, is acquiring Belgium-based specialty hearth manufacturer Be Fire for $19.9 million, the company said on Wednesday.Decisive will also include pay up to an additional $10.7 million contingent on Be Fire achieving certain earnings targets over the next three years, of which the first $2.2 million will be paid with 242,027 Decisive shares.The acquisition adds to the health vertical, where the company has generated strong returns historically, and also facilitates Decisive's entry into France and Belgium, diversifying its revenue streams away from its North American market focus and add Euro denominated cash flows.The acquisition is expected to be financially accretive to Decisive from a sales, adjusted EBITDA, and adjusted EBITDA per share basis, a statement said.Decisive Dividend shares were last seen up $0.34 to $9.59 on the TSX Venture Exchange.Price: $9.59, Change: $+0.34, Percent Change: +3.68%
