Proactiveinvestors United Kingdom - Financial Admin RSS feed Proactiveinvestors United Kingdom - Financial Admin feed en Sat, 20 Jan 2018 11:33:36 +0000 Genera CMS Altus Group to buy Argus Software for $130m, Altus shares drop Real estate consulting services provider Altus Group (TSE:AIF) said Tuesday it has agreed to buy Argus Software from private equity firm Lightyear Capital and Insight Venture Capital for $130 million.

Argus provides financial software and services to commercial real estate companies for asset valuation and operations management. The company's services allows clients to better manage the financial and operational performance of their real estate portfolios.

In 2006, New York-based Lightyear, which invests in mid-market financial services companies, invested in Realm Business Solutions, which was later renamed Argus Software.

Altus, with a staff of more than 1,700 and a network of more than 70 offices in 14 countries around the world, provides real estate consulting and professional advisory services.

With the acquisition, Altus is expected to increase its global footprint to 4,600 clients in 45 countries. The transaction is also anticipated to immediately add to the company's earnings and cashflow.

Altus said the $130 million consideration will be comprised of $80 million in cash, to be paid through the expansion of an existing loan, and the issuance of $50 million in debt. The buyer also announced today that it halved its dividend to 15 Canadian cents, prompting a 16% fall in its share price on Tuesday.

The deal is expected to close in the second quarter, pending regulatory approvals and other closing conditions.

Tue, 12 Apr 2011 20:06:00 +0100
Altus expands into Australia, acquires Page Kirkland Group Altus Group Income Fund (AIF.UN) said it has completed the acquisition of Australian property consultancy Page Kirkland Group, expanding its business into Australia.


The acquisition was funded partly by cash, as well as issued equity and bank financing. Altus, which provides consulting services to banks, governments, developers and oil and gas sector among other clients, is now present in 11 countries.


Altus’ decision to grow business in Australia comes at a good time as the country has recently softened its legislation, opening the door for foreign investment into property and was named the top country for property investment by a recent survey carried out by Asian, European and American real estate associations, boosting its appeal as a real estate market.


The company did not disclose the financial terms of the deal.


Altus opened with an almost 2% gain on the Toronto Stock Exchange today.

Fri, 31 Jul 2009 20:25:00 +0100