Filing Flows › CIRCLE8 Group (CIRC) › Takeover & LBO
Is CIRCLE8 Group (CIRC) a takeover target?
A leveraged buyout does not work for CIRCLE8 Group on its latest figures: it has no positive EBITDA to borrow against (−$51.2M over the last 12 months, on revenue of $800M). Historically 7.2% of companies with its figures were bought within a year (1.43× the average). Latest signal (2026-10-21): US-based Circle8 gets second deadline extension for SThree takeover bid.
Why a leveraged buyout does not fit
A leveraged buyout is paid for mostly with debt that the company's own cash flow repays. CIRCLE8 Group's EBITDA over the last 12 months was −$51.2M on revenue of $800M, so there is nothing to lend against and nothing to repay a loan with: a buyer would have to pay almost entirely with its own money. That is the kind of deal another company — a strategic buyer that wants the products, the pipeline or the technology — makes, not a private-equity fund. The model therefore gives no buyout price.
What a takeover could cost
Takeovers in its sector paid a median premium of 40% over the share price before the deal (the middle half 14.7% to 60.2%), according to the 20 merger proxies and tender-offer responses on EDGAR that state a premium. At the median, CIRCLE8 Group would cost about $0.41 a share, $46.6M for all its shares.
| Premium | % | Price a share | All shares |
|---|---|---|---|
| Low end (a quarter of deals paid less) | 14.7% | $0.33 | $38.2M |
| Median | 40% | $0.41 | $46.6M |
| High end (a quarter paid more) | 60.2% | $0.47 | $53.3M |
The odds, from history
Historically 7.2% of companies with its figures were bought within a year (1.43× the average). Its figures put it in decile 9 of 10 (10 = the most likely to be bought). The odds come from a model of every merger proxy, tender-offer response and going-private statement filed on EDGAR since 2011, set against each company's size, margins, debt, cash flow and growth the year before.
Rumors and deal signals
- 2026-10-21 · news · US-based Circle8 gets second deadline extension for SThree takeover bid
CIRCLE8 Group's latest quarter
CIRCLE8 Group, Q2 2026: revenue $320M (+211% year over year), operating margin -4.8%, net loss $86.4M, operating cash flow −$3.8M. The chart follows the revenue to costs, profit and cash.
Questions
Is CIRCLE8 Group being acquired?
The latest signal on file is from 2026-10-21: US-based Circle8 gets second deadline extension for SThree takeover bid. A headline is not a deal; Filing Flows lists the news, 8-K filings and 13D filings about a sale.
Could private equity buy CIRCLE8 Group?
A leveraged buyout does not work for CIRCLE8 Group on its latest figures: it has no positive EBITDA to borrow against (−$51.2M over the last 12 months, on revenue of $800M). With no cash flow to repay a loan, a buyer would pay almost entirely with its own money: a deal for another company (a strategic buyer), not for a private-equity fund.
What would a takeover of CIRCLE8 Group cost?
Takeovers in its sector paid a median premium of 40% over the share price before the deal (the middle half 14.7% to 60.2%), according to the 20 merger proxies and tender-offer responses on EDGAR that state a premium. At the median, CIRCLE8 Group would cost about $0.41 a share, $46.6M for all its shares.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.