Titan International Acquires Carlstar Group LLC For Approximately $296M In Cash And Stock Transaction
Portfolio Pulse from Benzinga Newsdesk
Titan International has acquired Carlstar Group LLC for around $296M in a cash and stock deal, valued at about 4x Carlstar's FY 2023 adjusted EBITDA of $73M. The acquisition is expected to boost Titan's earnings per share and operating margins in 2024. Carlstar, a global manufacturer and distributor of specialty tires and wheels, reported 2023 revenues of approximately $615M.
February 29, 2024 | 11:07 am
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Titan International's acquisition of Carlstar Group for approximately $296M is expected to be immediately accretive to earnings per share and operating margins in 2024.
The acquisition is valued at a favorable multiple and is expected to be accretive to Titan International's earnings per share and operating margins, indicating a positive impact on the company's financial performance. The strategic nature of the acquisition, aimed at expanding Titan's product portfolio in specialty tires and wheels, further underscores its potential to enhance shareholder value.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100