Leeds-based Communisis is set to be bought by a US-based payment solutions firm in a deal worth almost £154m.
The B2B marketing communications firm has agreed to a £153.8m cash takeover offer from OSG Bidco Limited, a wholly-owned indirect subsidiary of OSG Group Holdings Inc.
Under the terms of the deal, investors have been offered 71p per share in cash, a premium of almost 40% of yesterday’s closing price of 50.8p.
Communisis, which has nine UK offices including Leeds, Liverpool and Newcastle, reported total revenue of £188.6m for the six months to the end of June – up from £173.5m year on year – with profit before tax up from £6.4m to £6.5m.
It works with clients including Bacardi, Homebase and EE and has operations in 17 countries worldwide, employing over 2,000 staff.
Private equity-owned OSG is a leading independent provider of outsourced omnichannel billing, critical communications and payment solutions, working with around 5,400 multi-sector clients.
It has made 17 acquisitions since 2013 and is forecasting revenue of $260m and $64m in EBITDA in 2018.
