Intueri to buy NZ Institute of Sport for $19.3M

Wed, 22 Jul 2015

By Tina Morrison July 23 (BusinessDesk) - Intueri Education Group, New Zealand's largest private training college, has agreed to buy the New Zealand Institute of Sport for $19.3 million to give it significant scale in the sports and complementary health sectors. The purchase equates to 5.5 times expected 2016 earnings before interest, tax, depreciation and amortisation, Auckland-based Intueri said in a statement. The company will pay an initial $17.6 million, funded from Intueri's current debt facilities, with a potential interim payment...

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