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Live Ventures Acquires Flooring Liquidators For $84M; Hopes Deal To Increase Revenue By 50%

Live Ventures Acquires Flooring Liquidators For $84M; Hopes Deal To Increase Revenue By 50%

Live Ventures以8400万美元的价格收购地板清算人;希望这笔交易将收入增加50%
Benzinga Real-time News ·  2023/01/19 11:12
  • Live Ventures Inc (NASDAQ:LIVE) has acquired the outstanding equity interests of Flooring Liquidators Inc, in a transaction valued at approximately $84 million.
  • Founded by Steve Kellogg in 1997, Modesto, California-based Flooring Liquidators provides floor, cabinets, countertops, and installation services in California and Nevada, operating 20 warehouse-format stores and a design center.
  • As part of the acquisition, Live Ventures will retain Flooring Liquidators' existing management team and all 625 employees and contractors.
  • "We expect the acquisition to increase our overall revenues by approximately 50%, or about $125 million per year, and grow in the coming years," said Live Ventures CEO Jon Isaac.
  • Live Ventures financed the transaction through a combination of cash, debt, including a $5 million note from Isaac Capital Group, and the issuance of 116,441 shares of its common stock, representing a 3.78% dilution of its stock.
  • Live Ventures held $4.6 million in cash and equivalents as of September 30, 2022.
  • Live Ventures also acquired Floorable, LLC, the company's franchise opportunity utilizing proprietary in-home shopping mobile showrooms.
  • Price Action: LIVE shares are trading lower by 0.46% at $36.65 on the last check Thursday.
  • Live Ventures Inc.纳斯达克(Sequoia Capital:LIVE)收购了地板清算师公司,交易价值约8400万美元。
  • 总部位于加利福尼亚州莫德斯托的Floating Liquidators由Steve Kellogg于1997年创立,在加利福尼亚州和内华达州提供地板、橱柜、台面和安装服务,经营着20家仓储式商店和一个设计中心。
  • 作为收购的一部分,Live Ventures将保留Floating Liquidators现有的管理团队以及所有625名员工和承包商。
  • Live Ventures首席执行官乔恩·艾萨克表示:“我们预计此次收购将使我们的总收入增加约50%,即每年约1.25亿美元,并在未来几年实现增长。”
  • Live Ventures通过现金、债务(包括Isaac Capital Group发行的500万美元票据)和发行116,441股普通股为这笔交易提供资金,相当于其股票稀释了3.78%。
  • 截至2022年9月30日,Live Ventures持有460万美元的现金和现金等价物。
  • Live Ventures还利用专有的室内购物移动展厅收购了该公司的特许经营机会Floorly,LLC。
  • 价格行动:在周四的最后一次检查中,Live股票下跌了0.46%,至36.65美元。
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