Miller Industries Announces Acquisition Of Southern Hydraulic Cylinder In An All-Cash Transaction For An Aggregate Purchase Price Of ~$17.5M
Portfolio Pulse from Happy Mohamed
Miller Industries (NYSE:MLR) has acquired custom hydraulic cylinder manufacturer Southern Hydraulic Cylinder for $17.5 million in an all-cash transaction. The acquisition aims to improve the stability of Miller Industries' supply chain and is expected to be accretive within the first year.
May 31, 2023 | 8:18 pm
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Miller Industries acquires Southern Hydraulic Cylinder for $17.5M, which is expected to improve supply chain stability and be accretive within the first year.
The acquisition of Southern Hydraulic Cylinder is expected to improve the stability of Miller Industries' supply chain, reduce inventory balance, and execute against their record backlog. This will likely have a positive impact on the company's stock price in the short term.
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