Fos Capital Ltd · ASX:FOS
Fos Capital — Merger or Acquisition (September 2023)
6 slides from Fos Capital's merger presentation, Sep 25, 2023
Slide 1: Transformative Acquisition
Transformative Acquisition KLIK Systems ASX: FOS
Slide 2: Transformative Acquisition
Transformative Acquisition • Acquisition of KLIK transformative for FOS • Group revenues reach critical mass +$25M* • Doubles EPS to 2.49c * • Increases FOS market share in linear lighting • Introduces new export markets • Significant presence in US market • KLIK USA have 70 agents across USA & Cana
Slide 3: KLIK Systems Overview
KLIK Systems Overview • 40+ years in operation • Designs, manufactures & distributes quality LED linear & handrail lighting solutions • Supplies into the commercial construction market • Head office and factory in Sydney NSW, sales in QLD. • Australian Distributors WA, VIC, TAS • Export market (25%)
Slide 4: KLIK Acquisition Terms
KLIK Acquisition Terms • Purchase price $3 million cash • $2 million on completion • $1 million 12 months from completion • Funded from existing cash and facilities • KLIK factory lease ends January 2024 • Under the terms of acquisition FOS is to relocate the business by December 2023 • Significant
Slide 5: Proforma P&L
Proforma P&L FOS Capital KLIK Systems Proforma Combined FY23 FY23 pro-forma FY23 Revenue 17,120 8,159 25,279 Gross Profit 6,580 4,009 10,589 GP% 38% 49% 42% Other Income 223 6 229 OPEX 5,867 2,565 8,433 EBITDA 936 1,500 2,385 Interest & Dep 193 442 635 PBT 743 1,007 1,750 Income tax (159) (252) (411
Slide 6: Proforma Balance Sheet 30/6/23
Proforma Balance Sheet 30/6/23 FOS KLIK Acquisition Proforma Payment Combined Cash & Receivables 4,411 4,411 Inventory & other 4,532 900 5,432 Total current assets 8,943 900 9,843 Non-current assets 4,679 1,726 1,796 8,201 Total assets 13,622 2,626 1,796 18,044 Payables 1,940 1,940 Other current lia