We are currently on track to close one of the first search deals in India. The business we are acquiring is a procurement automation company for B2B office and warehouse supplies. We are looking to raise $790K as equity for a $1.86M acquisition. Total sources apart from equity include $870K in earnouts and a $200K seller rollover. We are targeting a base case return of 6.1X MOIC over a 5-year period and 47% IRR. We have strong support from an experienced group of Indian and International investors. There is significant room to grow the recurring business model internationally in varied industries.
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