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Kloeckner & Co SE
M&A Activity • Dec 19, 2022
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M&A Activity
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News Details
Ad-hoc | 19 December 2022 18:29
Klöckner & Co SE: Klöckner & Co to acquire National Material of Mexico
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:
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).
19-Dec-2022 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com
| Language: | English |
| Company: | Klöckner & Co SE |
| Am Silberpalais 1 | |
| 47057 Duisburg | |
| Germany | |
| Phone: | +49 (0)203 / 307-0 |
| Fax: | +49 (0)203 / 307-5000 |
| E-mail: | [email protected] |
| Internet: | www.kloeckner.com |
| ISIN: | DE000KC01000 |
| WKN: | KC0100 |
| Indices: | SDAX |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1516831 |
| End of Announcement | EQS News Service |