EQS-Adhoc: Klöckner & Co SE: Klöckner & Co to acquire National Material of Mexico
EQS-Ad-hoc: Klöckner & Co SE / Key word(s): Mergers & Acquisitions
Klöckner & Co SE: Klöckner & Co to acquire National Material of Mexico
19-Dec-2022 / 18:29 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
Klöckner & Co has agreed to acquire National Material of Mexico (“NMM”) via its U.S. subsidiary Kloeckner Metals Corporation (“KMC”). NMM is a leading independent service center and materials supplier serving automotive and industrial end markets in North America.
The parties have agreed on a consideration of USD 340 million on a cash and debt free basis. With an Enterprise Value multiple of around 6.7 based on the expected 2022 EBITDA, this represents a highly attractive and directly value-accretive expansion of Klöckner & Co’s activities.
Closing of the transaction requires antitrust approvals and is expected before summer 2023.
Information and Explanation of the Issuer to this announcement:The parties have agreed on a consideration of USD 340 million on a cash and debt free basis. With an Enterprise Value multiple of around 6.7 based on the expected 2022 EBITDA, this represents a highly attractive and directly value-accretive expansion of Klöckner & Co’s activities.
Closing of the transaction requires antitrust approvals and is expected before summer 2023.
For the definition of EBITDA reference is made to our homepage (accessible via https://www.kloeckner.com/en/glossary.html) and/or the annual report 2021, p. 36 (accessible via https://www.kloeckner.com/en/investors/publications.html).
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1516831 19-Dec-2022 CET/CEST