Embellence Group announced its Artscape acquisition on February 21, 2022, valuing the purchase at US$20 million on a cash-free, debt-free basis. The announcement scheduled takeover for March 1.
The announced deal would bring patterned decorative window film to the Swedish interior-products group. At the time, Embellence reported approximately US$14 million in Artscape annual sales and said production was outsourced to U.S. manufacturers.
The disclosed financing mix was 70% cash, 20% newly issued Embellence shares and 10% a promissory note. A potential earnout depended on 2022 earnings growth compared with 2021. Consequently, US$20 million was not necessarily the final all-in consideration. The announcement’s expected synergies and future earnings effects were forecasts, not established transaction outcomes.
Sources & reporting notes
- Embellence Group acquires US company Artscape, Inc. Embellence Group · Source dated February 21, 2022
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