- 01
PCF Group S.A. acquired 100% of Montreal-based creative agency Game On Creative, Inc. to bolster its North American motion capture, cinematic, and audio production capabilities.
- 02
The purchase price is valued at eight times Game On’s 2020 EBITDA, subject to adjustments for debt, working capital, and leakage.
- 03
The transaction is primarily financed through a private subscription of PCF Group Series D shares issued to the seller’s trust, SG Trust.
- 04
A five-year earn-out provision grants the seller 5% of annual EBITDA contingent upon meeting specific performance targets.
- 05
Game On founder Samuel Girardin will serve as Studio Head of People Can Fly Canada while retaining his presidency at Game On.
- 06
The agreement includes a lock-up period for newly issued shares and a call option mechanism to protect the buyer if share registration is delayed beyond 2021.
- 07
PCF Group delayed the public disclosure of the March 11, 2021, letter of intent to comply with European Market Abuse Regulations and protect the integrity of the negotiation process.