RMR GROUP INC. (RMR): M&A transaction — RMR Group closes $80M acquisition of CARROLL multifamily platform with $20M earnout

RMR GROUP INC.

Acquired 100% of MPC/CARROLL for $80M cash plus up to $20M contingent earnout based on capital deployment.
Transaction expands RMR into multifamily, the only major property sector where it lacked significant presence.
RMR had over $200M cash remaining post-close and no debt, well-positioned for further growth.
Patrick Carroll entered a business protection agreement with non-competition and non-solicitation covenants.
Company expects the deal to be accretive and to increase private capital assets under management.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

RMR GROUP INC. completed an acquisition involving MPC Partnership Holdings LLC (CARROLL) for $80 million in cash (closed 2023-12-19).

Action: acquisition
Counterparty: MPC Partnership Holdings LLC (CARROLL)
Consideration: $80 million in cash
Closing: 2023-12-19

Exact text from the filing

On December 19, 2023, RMR LLC completed its acquisition of the issued and outstanding equity interests of MPC for $80 million in cash, subject to customary adjustments for MPC’s cash, debt, transaction expenses and working capital at closing.

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RMR GROUP INC. filing history →

Source: SEC EDGAR

accession 0001104659-23-127349

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