Georgia Capital PLC Investment Overview
2a.Capital
allocations
Recent acquisitions
March 2019
Kazbegi brand acquisition
Georgia's oldest beer brand - Kazbegi,
brewed since 1881
The fifth largest Georgian beverages brand
with 5% market share
HO
• Total cash consideration of US$ 3.65 million
May 2019
Redberry acquisition
• 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
July 2019
Buckswood International
The leading school in the mid-level segment
Purchase of 80% equity stake
Valued at 6.4x EV/EBITDA 2020
• Aiming to increase the capacity from current 730
learners to approximately 2,200 learners by 2021
• Total capital allocation from GCAP of GEL 17
million²
Deal close date - 29 July 2019
Mar-19
Apr-19
May-19
Jun-19
Jul-19
GEORGIA
CAPITAL
April 2019
Amboli acquisition
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
• Deal close date - 28 June 2019
June 2019
British-Georgian Academy
• The leading school in the premium segment
• Purchase of 70% equity stake
• Valued at 6.4x EV/EBITDA 2020
• Aiming to increase the capacity from current 750
learners to approximately 3,500 learners by 2021
• Total capital allocation from GCAP of GEL 75
million²
• Deal close date - 24 July 2019
(1)
(2)
80% equity stake in the current campus and 90% equity stake in three new schools that will be developed under green school brand.
Includes actual and projected future capital allocations.
(3)
•
July 2019
Green School
The leading player in affordable segment
• Purchase of 80-901% equity stake
•
Valued at 5.6x EV/EBITDA³
Aiming to increase the capacity from current 1,250
learners to approximately 5,700 learners by 2024
• Total capital allocation from GCAP of GEL 21
million²
• Deal close date - Expected in Aug-Sep 2019
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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