Portfolio and Acquisitions Summary 2019
Acquisitions in 2019 | private portfolio
•
February 2019
Kempinski Hotel
Buyout of the remaining
40% equity stake for
US$ 5.2 million
Expected to add c. 100
rooms to hospitality
business portfolio from
4Q20.
March 2019
Kazbegi brand acquisition
.
Georgia's oldest beer brand-
Kazbegi.
• Total cash consideration of
US$ 3.65mln
May 2019
Redberry
• The leading Georgian digital
marketing agency
.
US$ 0.4 million cash consideration
to acquire 60% equity stake
• US$ 2.8 million new capital
injected for digital start-up
development
•
•
GEORGIA
CAPITAL
July 2019
Buckswood International
• The leading school in the mid-level
segment
.
Purchase of 80% equity stake
Valued at 6.4x EV/EBITDA 2020
Targeted capacity of c. 2,980 learners
by 2021 (Current 760 learners)
Capital allocation from GCAP of GEL
24 million²
August 2019
Alaverdi winery
• Purchase of 100% equity stake
⚫ 244 hectares of vineyards and 135
hectares of free land in the Kakheti
region
The acquisition tripled the Wine
Business's production capacity
Capital allocation from GCAP of
GEL 16 million
•
November 2019
Qartli wind farm
Purchase of 100% equity stake
Valued at 7.2x EV/EBITDA 2020
• 21MW installed capacity
•
US$ 14.4 million cash consideration
.
Capital allocation from GCAP of
GEL 13 million
February
March
April
May
June
July
August
October
November
December
April 2019
Amboli
• Second largest player in Georgian
auto service industry
⚫ GEL 3.4 million cash consideration
to acquire 80% equity stake
• Valued at 0.7x EV/Sales 2018
• Additional Equity capital injection of
GEL 1.6 million
June 2019
British-Georgian Academy
• The leading school in the premium
segment
•
•
Purchase of 70% equity stake
Valued at 6.4x EV/EBITDA 2020
Targeted capacity of c. 3,200 learners
by 2021 (Current 800 learners)
Capital allocation from GCAP of GEL
75million²
July 2019
Green School
• The leading player in affordable
segment
Purchase of 80-901% equity stake
Valued at 5.6x EV/EBITDA³
Targeted capacity of c. 5,000 learners
by 2024 (Current 1,250 learners)
Capital allocation from GCAP of GEL
21million²
October 2019
Hydrolea
⚫ Purchase of 100% equity stake
⚫ Three operating HPPs with 21MW
installed capacity
⚫ Greenfield HPP project with 19MW
targeted capacity
Capital allocation from GCAP of GEL
30 million
December 2019
Four famous Georgian restaurants
• Our hospitality business partnered
(50% ownership) with the
famous Georgian chef, Tekuna
Gachechiladze, owner of four
leading Georgian restaurants.
• Total consideration of GEL 1.3
million.
(1) 80% equity stake in the current campus and 90% equity stake in three new schools that will be developed under green school brand.
(2) Includes actual and projected future capital allocations.
(3) An additional earn-out may apply subject to EBITDA target within the next three academic years. The cumulative EV paid will not exceed 5.6x EV/EBITDA of the respective year (including performance-related deferred consideration).
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