The UK-based CentralNic Group is seeking to raise €15 million (US$18m) from investors “for the acquisition of near-term identified targets.” Since 2015, CentralNic has acquired at least 10 companies, mostly domain name registrars.
At a bondholder meeting held on 29 January, an amendment to the bond terms disclosed on 15 January was approved the company announced Monday. As a result, Pareto Securities has been mandated to arrange a series of fixed income institutional investor meetings starting the week commencing 8 February to issue a tranche of bonds with a volume of approximately €15m (US$18m).
In their announcement on 15 January, CentralNic noted since the senior secured bond issue in the second half of 2019, CentralNic has acquired seven companies and increased its revenue from US$56.0m (2018) to US$168.5m (9 months 2020) as well as its adjusted EBITDA from US$9.2m (2018) to US$22.1m (9 months 2020) as reported in their Q3 2020 Interim Report released on 30 November 2020. This strong growth has been achieved through a combination of organic growth and successful integration of acquisitions.
“In order to facilitate the Company’s continued strong growth by making further acquisitions while not diluting its existing shareholder base, CentralNic is now seeking to make certain amendments to the terms for the Bond. These changes reflect, in part, the fact that since issuing the Bond, CentralNic has become a larger company and therefore is able to service more debt than at the point the bond was initially placed.”
Recent acquisitions by CentralNic have included SafeBrands (2021), Zeropark and Voluum (2020), Team Internet AG (2019), Ideegeo Group (2019), TPP Wholesale (2019), Hexonet group (2019), KeyDrive S.A. (2018), GlobeHosting (2018), SK-NIC (2017) and Instra Group (2015).