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Ophelia Bidco completed the acquisition of Conveyancing Alliance from ULS Technology for £27m.

Financials

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Transaction Value£27m
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales3.1x
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Majority

Friendly

Domestic

Private

Single Bidder

United Kingdom

Mortgage Finance

mortgage finance

Disposal

Acquisition

Completed

Synopsis

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Ophelia Bidco completed the acquisition of Conveyancing Alliance, a mortgage finance firm, from ULS Technology, a provider of online platforms to support UK consumers moving home, for £27m. "This is a pivotal moment for ULS with the Disposal enabling us to accelerate our growth strategy. We believe that the consideration represents an attractive valuation, unlocking value for shareholders, whilst at the same time providing the capital to achieve our vision of building a digital platform that will transform the entire home moving and home owning process for consumers. We look forward to welcoming Jesper in the new year to spearhead the next phase of our development," Martin Rowland, ULS Technology Chairman.

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