Ashford Reports Closing of J&S' Strategic Investment in Buffalo-Based Integrated Provider of Audio and Visual Services
Ashford Inc. (Holding Company) (AINC)
NASDAQ:AMEX Investor Relations:
ashfordinc.com
Company Research
Source: PR Newswire
DALLAS, March 5, 2019 /PRNewswire/ -- Ashford Inc. (NYSE American: AINC) ("Ashford" or the "Company") today announced that one of its Hospitality Products and Services companies, J&S, has completed the acquisition of substantially all of the assets of an integrated provider of audio and visual services based in Buffalo, New York ("BAV") for approximately $5 million in cash and $4 million of Ashford common stock (excluding transaction costs, working capital adjustments, and contingent consideration). Adjusted EBITDA for the twelve months ending December 31, 2019 is expected to be approximately $2.3 million. The implied forward Adjusted EBITDA multiple is 5.0x based on the total initial purchase price and expected contingent consideration, which the Company believes represents an attractive potential return on investment. A reconciliation of non-GAAP financial measures is included in the financial table below. After giving effect to the transaction, Ashford will own an approximately
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News
- Ashford Inc. (NYSE: AINC) is now covered by analysts at StockNews.com. They set a "buy" rating on the stock.MarketBeat
- ASHFORD HOSPITALITY TRUST ANNOUNCES CEO SUCCESSION PLAN [Yahoo! Finance]Yahoo! Finance
- Ashford Inc. (NYSE: AINC) is now covered by analysts at StockNews.com. They set a "buy" rating on the stock.MarketBeat
- Ashford Inc. (NYSE: AINC) is now covered by analysts at StockNews.com. They set a "buy" rating on the stock.MarketBeat
- Ashford Inc. (NYSE: AINC) is now covered by analysts at StockNews.com. They set a "buy" rating on the stock.MarketBeat
AINC
Earnings
- 11/8/23 - Miss
AINC
Sec Filings
- 4/18/24 - Form SC
- 4/18/24 - Form 8-K
- 4/16/24 - Form SC
- AINC's page on the SEC website