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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%

活企業以 84 萬美元的價格收購地板清盤人;希望交易將收入增加 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.納斯達克(Sequoia Capital:LIVE)收購了地板清算師公司,交易價值約8400萬美元。
  • 總部位於加利福尼亞州莫德斯托的Floating Liquidators由Steve Kellogg於1997年創立,在加利福尼亞州和內華達州提供地板、櫥櫃、臺面和安裝服務,經營著20家倉儲式商店和一個設計中心。
  • 作為收購的一部分,Live Ventures將保留Floating Liquidators現有的管理團隊以及所有625名員工和承包商。
  • Live Ventures首席執行官喬恩·艾薩克表示:“我們預計此次收購將使我們的總收入增加約50%,即每年約1.25億美元,並在未來幾年實現增長。”
  • Live Ventures通過現金、債務(包括Isaac Capital Group發行的500萬美元票據)和發行116,441股普通股為這筆交易提供資金,相當於其股票稀釋了3.78%。
  • 截至2022年9月30日,Live Ventures持有460萬美元的現金和現金等價物。
  • Live Ventures還利用專有的室內購物移動展廳收購了該公司的特許經營機會Floorly,LLC。
  • 價格行動:在週四的最後一次檢查中,Live股票下跌了0.46%,至36.65美元。
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