LINK Mobility Group Holding ASA ((OB:LINK) is looking for M&A. Thomas Berge, Chief Executive Officer said during the First Quarter 2024 Results Presentation, "In addition to organic growth opportunities, the company is well positioned for inorganic growth through M&A. LINK has the competency, the historical track record for value creation through M&A and a solid pipeline with potential M&A target. Since 2015, LINK has closed over 30 acquisitions, of which the majority have been a great success, generating significant value creation. LINK has a large M&A pipeline with profitable and high-quality targets.

Bolt-ons in Europe have priority, but we're also looking outside Europe. Valuation on private companies in our space have been reduced since 2021 and '22, and we see a target valuation of between 6 to 9x cash EBITDA before synergies. The quality of the customer base, growth momentum of targets and synergy potentials are the main criteria, placing the valuation in the mentioned range of 6 to 9x cash EBITDA.

LINK has NOK 3.4 billion in cash reserves and a bond amounting to EUR 348 million outstanding after executed bond buybacks that need to be refinanced before the due date in December 2025. The cash position will be further strengthened by time as the company historically generates approximately NOK 40 million plus in free cash flow on a yearly basis. The high cash reserves will be used for acquisitions and a significant repayment of the existing bond".