Wall Street dealmaker Michael Klein has been hunting for deals in Cheshire. The northern English county is the home of serial acquirer CorpAcq, led by the brother of “Take That” singer Jason Orange, which Klein’s Churchill Capital Corp VII special-purpose acquisition company vehicle now hopes to buy. The deal, which values the investor in plumbing to fork-lift leasing groups at $1.6 billion including debt, may struggle to relight the fire of the depressed SPAC sector.
Lucid Motors CEO Peter Rawlinson stands with Michael Klein, Chairman and CEO of Churchill Capital Corp after ringing the opening bell at the Nasdaq MarketSite as Lucid Motors began trading on the Nasdaq stock exchange after completing its business combination with Churchill Capital Corp IV in New York City, New York, U.S.,...LONDON, Aug 2 - Wall Street dealmaker Michael Klein has been hunting for deals in Cheshire.
special-purpose acquisition company vehicle now hopes to buy. The deal, which values the investor in plumbing to fork-lift leasing groups at $1.6 billion including debt, may struggle to relight the fire of the depressed SPAC sector.comes amid a growing lack of patience by SPAC investors. Blank-cheque company listings have fallen off a cliff, and even those lucky enough to have raised money before the music stopped are struggling to do deals. The number of U.S.
CorpAcq could yet be magic for SPAC investors. The deal only values the group at 10 times its estimated 2023 EBITDA of $152 million. That's a discount compared to U.S. industrial groups like Emcor
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