Ad-hoc | 19 December 2022 18:29
Klöckner & Co SE: Klöckner & Co to acquire National Material of Mexico
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Klöckner & Co SE / Key word(s): Mergers & Acquisitions
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.
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| 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: | info@kloeckner.com |
| 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 |