Better Collective announced that it has completed the acquisition of Playmaker Capital, a Toronto-based digital sports media group. This is notably Better Collective’s second-largest acquisition to date.
The deal saw Better Collective acquire all of Playmaker Capital’s issued shares for a consideration of CAD 0.70 per share. Better Collective covered this deal both in cash and Better Collective shares.
Following the completion, Playmaker Capital’s common shares are set to be delisted from the TSX Venture Exchange. In addition, the acquired company will apply to cease to be a reporting issuer.
Speaking of shares, Better Collective’s board decided to increase the company’s share capital with nominally EUR 17,554.29. As a result, a total of 1,755,429 new ordinary shares with a nominal value of EUR 0.01 have been issued.
Playmaker Capital will be consolidated into Better Collective’s financials as of February 6. Furthermore, Better Collective updated its 2027 long-term financial targets.
Better Collective Updates Financial Targets
The acquisition deal prompted Better Collective to revisit its 2027 long-term financial targets. According to the company’s report, its revised targets include a revenue CAGR of +20% and net debt to EBITDA below 3x.
While the aforementioned metrics remain unchanged, the acquisition of Playmaker Capital increased Better Collective’s confidence in reaching the revenue CAGR target.
In addition, Better Collective updated its EBITDA margin before special items guidance from 30-40% to 35-40%.
Executives Are Excited about the Deal’s Completion
Better Collective’s co-founder and chief executive officer, Jesper Søgaard, commented on the completed deal. He said that this is an important step towards Better Collective’s vision of becoming “the leading digital sports media group.
I look forward to welcoming the entire Playmaker team and its leading sports media brands to the Better Collective group and to realize the many synergies that lie ahead for our business.
Jesper Søgaard, co-founder & CEO, Better Collective
In the meantime, Jordan Gnat, Playmaker Capital’s co-founder and CEO, said that the deal signifies the start of the next phase of his company’s journey. He thanked the Better Collective team for the incredible confidence they have in what Playmaker Capital has to offer.
I would also like to thank all the Playmaker shareholders for their support of Playmaker and look forward to their continued support of Better Collective as together we become the leading digital sports media group.
Jordan Gnat, co-founder & CEO, Playmaker Capital
Better Collective’s business has been going from strength to strength, as demonstrated by the group’s strong financial results. With Playmaker Capital under its wing, the company remains bullish on meeting its long-term targets.