Trajan really on the acquisition spree recently. Catch is a placement was done at $2 and Trajan is also doing a SPP at $2 for existing shareholders. This is one I've been following as it is similar to ALS but yet to pull the trigger. Think I will wait on this one as well...

Details below:

Trajan to acquire leading chromatography consumables and tools business building critical mass in the gas chromatography portfolio

Highlights

• Trajan to acquire Chromatography Research Supplies, Inc. (CRS), a leading global manufacturer of high-quality analytical consumables

• Provides Trajan with enhanced and extended production capabilities to service its growing gas chromatography business. Strengthens Trajan’s product portfolio particularly in the critical area of the gas chromatography inlet and sample introduction

• Expands global infrastructure footprint with the acquisition of manufacturing real estate assets in the US

• Follows three successful acquisitions and one strategic investment since listing on the ASX in June 2021

• Acquisition delivers FY22 forecast revenues of US$14.1 million (A$20.1 million1) and EBITDA of US$4.2 million (A$6.0 million1)2, and estimated annual synergies of ~A$1.3 million

• Acquisition price of US$43.3 million (A$61.9 million1) implies ~9.5x FY22F EBITDA (pre synergies)3

• Expected to deliver FY23F earnings per share accretion of >31%1,4,5,6 (excluding the impact of synergies) or >42% (including 100% of the pro forma impact of identified corporate savings and product line synergies7)

• Acquisition to be funded via a fully underwritten A$29.7 million institutional placement (Placement) A$20.0 million in acquisition debt financing through a facility with HSBC and $13.4 million from existing cash