It will have to be managed very well from the get go. If you are going to pay 12x with DEBT, then there is no room for error. Too much risk for me, without any clear reward, other than cost synergies. @Charlie73 In the space of a little more than 2 years, these guys will have gone from a Net Cash position of $16m, to a Net Debt position in excess of $90m. This has all the elements of a bad outcome.