Fusion Fuel Green PLC announced on May 27, 2025, that it has executed non-binding Heads of Terms to acquire 100% of a privately-held United Kingdom-based fuel distribution business and certain related companies. This follows the non-binding Letter of Intent announced on April 9, 2025.
The total consideration for the acquisition is £50 million, consisting of £40 million in debt-financed cash and £10 million in Fusion Fuel ordinary shares. The Heads of Terms include equity value protection provisions for the sellers, such as downside price protection, a buy-back option, and an upside cap provision.
For the fiscal year ending April 30, 2024, the target company generated revenues of approximately $50 million and net income of approximately $5 million. It showed strong growth in the following fiscal year, ending April 30, 2025, achieving revenues of approximately $58 million and net income of approximately $7 million, with minimal debt.
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