Actic has acquired Ego Hälsostudio, a family-run gym chain with eight facilities in Sundsvall, with annual sales of SEK 35m and EBIT margin of 22% in 2025. The purchase will be financed through a combination of shares, cash payment, and earn-out totaling SEK 60m (of which earn-out is SEK 25m). As such, the paid multiple is EV/EBIT 7.8x incl. earn-out (4.5x ex earn-out). We estimate EGO adds 8% to NTM EPS. Looks like a solid add-on to Actic, in our view.
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