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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POSITIVE IMPACT
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.
CONFIDENCE 90
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