Brief: Stratec Acquires Natech Plastics

Stratec SE

07/06/2023 06:03

June 7 (Reuters) - STRATEC SE  SBSG.DE :
    * STRATEC FURTHER EXPANDS ITS PRESENCE IN USA BY ACQUIRING
NATECH
PLASTICS
    * HAS SIGNED AN AGREEMENT TO ACQUIRE NATECH PLASTICS, INC.,
BASED
IN RONKONKOMA, NY/USA
    * SAYS ADDITION OF A LOCAL PRODUCTION SITE WILL EXTEND
STRATEC'S
FOCUS ON US MARKET
    * SAYS DIVERSIFICATION DUE TO HIGH SHARE OF RECURRING SALES,
EXTENDED CUSTOMER BASE, AND COMPLEMENTARY TARGET MARKETS
    * TRANSACTION PRICE AGREED FOR COMPANY, WHICH HAS ALMOST NO
DEBT,
AMOUNTS TO USD 30.0 MILLION, PLUS A VARIABLE COMPONENT
(EARN-OUT) BASED ON DEFINED PERFORMANCE CRITERIA THROUGH TO 2025
    * THIS WILL BE FINANCED WITH A NEWLY ARRANGED CREDIT LINE
    * COMPLETION OF TRANSACTION, AND THUS FIRST-TIME
CONSOLIDATION,
ARE EXPECTED IN JULY 2023

Further company coverage:  SBSG.DE 

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