Halfords – Motoring On With £63.4M Acquisition Of Axle Group Holdings
Halfords Group plc (LON:HFD) have raised around £63.4m, with most of the proceeds from issuing new shares through a placing. The new shares total 9.9% of the previous issued share capital. Q3 2021 hedge fund letters, conferences and more The proceeds will be used to fund the acquisition of the tyre and automotive servicing business, Axle Group Holdings. Efficiencies from the deal are expected to add £18m to Halfords cash profits by year 5, with a third of that coming in year 1. The group believes the acquisition is “both strategically and financially compelling, delivering on Halfords' objecti...