Delphi represents Doro in the acquisition of Welbeing
To expand its telecare business and strengthen the platform and service revenue, Doro AB (publ) acquires Welbeing, based in Eastbourne, UK.
Doro will initially pay approximately 130 MSEK, equal to eight times estimated EBITDA for the financial year 2017/2018. 85% of the initial purchase price will be paid in cash and 15% in newly issued shares in Doro. In addition, the sellers are entitled to receive an additional consideration if Welbeing’s EBITDA for the financial year 2017/2018, which ends on 30 September 2018, exceeds estimated EBITDA. The final acquisition amount will be calculated and published after the end of Q3-2018.
Welbeing is one of the leading telecare companies in the UK. The company services around 75 000 connections from various locations of which 21 000 are private customers. Organic growth has been significant, thanks to strong management and a track record of winning tenders and commercial bids. The number of employees is approximately 180. Revenue for the financial year ended September, 2017 was 7,6 MGBP (approx. 90 MSEK) of which the main part is from services.
The Delphi team includes Michael Juhlin and Rickard Isacson.