Coor acquires R & K Service in Norway
Coor today signed an agreement regarding the acquisition of Norwegian company R & K Service AS, which delivers cleaning and restaurant services. R & K Service has 130 employees with annual sales of some SEK 80 M. The acquisition strengthens Coor’s offering in cleaning and restaurant services and increases Coor’s geographical coverage in the Stavanger region.The purchase consideration (on a cash and debt free basis) amounts to some SEK 65 M and corresponds to an EV/EBITA multiple of approximately 7x in relation to current EBITA, and approximately 5x when expected synergies have been realized