CorpAcq Holdings Limited and Churchill Capital VII announced today the filing of a registration statement on Form F-4.
The statement includes a proxy and prospectus on the parties’ proposed merger at $1.6 billion when the deal was announced in August. Based in Altrincham, England and founded in 2006, CorpAcq said it has cultivated a reputation as a “preferred buyer” for founder-led small and medium-sized enterprises.
Assuming no redemptions, existing CorpAcq shareholders will receive up to approximately $257 million in cash as part of the transaction and are expected to own approximately 46% of the Company post-close (again, assuming no redemptions).
Churchill VII’s sponsor has elected to forfeit 15 million founder shares and unvest an additional 12.1 million shares to align with its shareholders and the long-term value creation and performance of CorpAcq.
If the deal wins approval, upon closing CorpAcq Group will be a publicly traded corporate compounder with a portfolio of 42 businesses as of Sept. 30.
CorpAcq Group Plc would list on the NYSE under the ticker CPGR.
CorpAcq said it posted organic revenue growth of approximately 9% for the first six months of 2023 and organic adjusted EBITDA growth of approximately 11%. For the six months ended June 30, CorpAcq had total revenues and adjusted EBITDA of approximately £341.6 million and £60.6 million, respectively. Read more.
