08:49 AM EDT, 09/17/2024 (MT Newswires) -- P10 (PX) said Tuesday it has agreed to buy Spain-based private equity firm Qualitas Equity Funds in a cash and stock deal for an initial purchase price of $63 million, with the potential for up to $35 million in additional earnout payments.

The company said the earnout will be based on new funds raised by Qualitas, after the deal closes, through Dec. 31, 2027. The acquisition will consist of $42.25 million in cash and $20.75 million in P10 stock, with the stock portion subject to a three-year lock-up period, it added.

P10 said the deal, slated to close in Q1, is expected to be "modestly accretive" to P10's adjusted net income per share after taxes in 2025.

Price: 10.58, Change: +0.04, Percent Change: +0.38