Mayville Engineering Acquires Privately-Held Mid-States Aluminum For $96M
Portfolio Pulse from Shivani Kumaresan
Mayville Engineering Company (NYSE:MEC) has agreed to acquire Mid-States Aluminum Corp for $96 million. The acquisition is expected to close in Q3 2023 and contribute $30-35 million in net sales and $4-6 million in Adjusted EBITDA for FY 2023. MEC plans to fund the transaction by amending its existing credit agreement.
June 20, 2023 | 1:12 pm
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Mayville Engineering's acquisition of Mid-States Aluminum is expected to boost net sales and EBITDA in FY 2023. The deal is set to close in Q3 2023.
The acquisition of Mid-States Aluminum is expected to have a positive impact on Mayville Engineering's financials, contributing $30-35 million in net sales and $4-6 million in Adjusted EBITDA for FY 2023. This is likely to be viewed positively by investors and could lead to an increase in MEC's stock price in the short term.
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