Quadro Acquisition one has agreed to acquire a group of seven companies in the sports collectibles, software, cloud-based IT and healthcare services segments with an estimated pro-forma enterprise value of $3 billion. These companies are affiliated with Global Growth, a private equity firm founded by Greg Lindberg.
The Global Growth Companies have been operating through various independent trusts and the merger with Quadro SPAC is expected to significantly enhance accountability to the shareholders by terminating certain of these trusts and by placing the Global Growth Companies under one chief executive officer and chief financial officer. The public company structure will also increase the transparency with public company financial reporting and governance in addition to expected improvements in performance and returns.
Among other conditions to the closing of the business combination, the proposed acquisition of the Global Growth Companies by Quadro SPAC and the related debt and equity financing transactions are subject to court and regulatory approval, including court approval for the repayment of indebtedness to certain affiliated insurance companies.