SPAR Group to be Acquired by Highwire Capital in a $58.22 Million Cash Deal

Marketing services provider SPAR Group, Inc. (SGRP) on September 3, 2024, entered into a definitive merger agreement to be acquired by investment firm Highwire Capital for about $58.22 million in cash.

Deal Structure:

As per the agreement terms, SPAR stockholders will receive $2.50 per share in cash, representing a premium of 72.41% from the stock’s last close.

Company Profile:

SPAR Group is a company that helps retailers and brands by providing merchandising, marketing, and distribution services, improving how products are presented and sold in stores worldwide.

Highwire Capital is an investment firm that transforms mid-sized businesses by integrating technology with traditional operations, driving efficiency, and turning them into industry leaders.

Deal Details and Timeline:

Once the transaction is finalized, which is expected in the fourth quarter of 2024, SPAR Group will transition to a privately held company.

SPAR Group’s current EV/EBITDA (TTM) ratio is 3.49, below the sector median of 10.25.

After the transaction is completed, SPAR Group will remain under the leadership of its current CEO, Mike Matacunas, who has served as President and CEO since early 2021.

In September 2022, SPAR initiated a process to evaluate potential strategic alternatives to maximize shareholder value and entered into a non-binding letter of intent (LOI) with Highwire Capital in June 2024.

Deal Metrics:

For a comprehensive look at this M&A deal, including all related metrics, please visit:

Deal Metrics for the acquisition of SPAR Group, Inc. (SGRP) by Highwire Capital

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• A spread history chart from the announcement to the completion or failure of the merger.
• A timeline of events, including HSR period expiration, regulatory approvals, shareholder votes, and more.
• News and SEC filings relevant to the merger.
• A log of deal updates.
• And much more.

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Editor’s Note: Baranjot Kaur contributed to this article