Cision to repay second-lien debt through Capitol Acquisition merger

By Tali Rackner

Norfolk, Va., March 20 – Cision plans to pay down its existing second-lien debt using the net proceeds from a contribution and exchange transaction related to its merger with Capitol Acquisition Corp. III, according to a press release.

The combined company will have an anticipated initial enterprise value of about $2.4 billion, implying a 10.5 times multiple of projected 2017 adjusted EBITDA and a multiple of 9.2 times projected 2018 adjusted EBITDA.

Cision, a GTCR portfolio company, is a Chicago-based media intelligence company. Capitol Acquisition is a public investment vehicle based in Washington, D.C.

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