Non-Precious Metals & Non-Metallic Mining M&A » By The Online Investor Staff, updated Sun., Apr. 28, 9:36 PM
Recent mergers and acquisitions in the Non-Precious Metals & Non-Metallic Mining M&A category.
Slide #43. Synalloy Corporation — Lee-Var, Inc., dba Palmer of Texas
Acquirer: |
Synalloy Corporation (SYNL) |
Acquiree: |
Lee-Var, Inc., dba Palmer of Texas |
Details: |
Synalloy Corporation announced that as previously reported on August 13, 2012, Synalloy entered into an agreement to purchase the stock of Lee-Var, Inc., dba Palmer of Texas. On August 21, 2012, the Company closed the transaction contemplated by the Stock Purchase Agreement. The acquisition was funded through a Credit Agreement with its current bank to increase the limit of its line of credit by $5,000,000 to a maximum of $25,000,000 and extended the maturity date to August 21, 2015. The Credit Agreement also included a ten-year term loan for $22,500,000 that requires equal monthly payments of $187,500 plus interest. |
Synalloy has two segments, the Metals Segment and the Specialty Chemicals Segment. The Metals Segment includes its subsidiaries: Bristol Metals, LLC, which manufactures welded pipe and tube, primarily from stainless steel, duplex, and nickel alloys; and American Stainless Tubing, LLC, which is a manufacturer of ornamental stainless steel tube, supplying the automotive, commercial transportation, marine, food services, construction, furniture, healthcare, and other industries. The Specialty Chemicals Segment includes its subsidiaries, Manufacturers Chemicals, LLC and CRI Tolling, LLC, which produce specialty formulations and intermediates for use in a variety of applications and industries.
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April 28, 2024 9:36 PM Eastern
Strong Buy (4.00 out of 4)
100th percentile
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