Streetbeat News

Acquisitions Mergers

STKS

The ONE Group Hospitality has reaffirmed its FY24 revenue guidance of $700M-$740M, inclusive of the Benihana acquisition. Key financial metrics include a consolidated adjusted EBITDA of $95M-$100M and total capital expenditures of $50M-$60M.

Portfolio Pulse from Benzinga Newsdesk

August 06, 2024 | 9:47 pm

SPWR

SWI

SolarWinds will replace SunPower in the S&P SmallCap 600 index, effective before the opening of trading on August 9. SunPower has filed for Chapter 11 bankruptcy, making it ineligible for continued inclusion in the index.

Portfolio Pulse from Benzinga Newsdesk

August 06, 2024 | 9:30 pm

BYNO

byNordic Acquisition Corporation has signed a non-binding Letter of Intent (LOI) to merge with Sivers Semiconductors' subsidiary, Sivers Photonics.

Portfolio Pulse from Benzinga Newsdesk

August 06, 2024 | 9:24 pm

BWMN

Bowman Consulting Group Ltd. (BWMN) has updated its FY 2024 guidance, projecting net service billing between $375M and $385M and Adjusted EBITDA between $58M and $63M. This outlook is based on completed acquisitions to date and excludes future acquisitions.

Portfolio Pulse from Benzinga Newsdesk

August 06, 2024 | 9:17 pm

DKL

H2O Midstream and EIV Capital have announced the sale of H2O Midstream to Delek Logistics Partners (DKL). H2O Midstream provides water management solutions in Howard County, Texas.

Portfolio Pulse from Benzinga Newsdesk

August 06, 2024 | 9:14 pm

SWIM

Latham Group shares are trading higher following better-than-expected Q2 financial results and an upward revision of FY24 revenue guidance. The company also announced the acquisition of Coverstar Central.

Portfolio Pulse from Benzinga Newsdesk

August 06, 2024 | 9:05 pm

FLYW

Flywire Corporation (NASDAQ: FLYW) has acquired Invoiced, a SaaS platform that automates the order-to-cash process for B2B finance teams. This acquisition enhances Flywire's B2B payments solution, expands its customer base, and provides an opportunity to monetize billions in invoicing volume managed by Invoiced.

Portfolio Pulse from Benzinga Newsdesk

August 06, 2024 | 9:05 pm

SWIM

Latham Group has raised its FY24 revenue guidance from $490M-$520M to $495M-$525M, surpassing the $509.78M estimate. The company attributes this to improved cost structure, productivity gains, and reduced working capital needs. The updated guidance also reflects contributions from the Coverstar Central acquisition. Adjusted EBITDA guidance has been increased by $15 million, with $12 million from organic growth and $3 million from the acquisition.

Portfolio Pulse from Benzinga Newsdesk

August 06, 2024 | 8:58 pm

SWIM

Latham has announced the acquisition of Coverstar Central to enhance its product line sales growth and adoption of automatic safety covers. This acquisition is expected to be immediately accretive to earnings and will support Latham's fiberglass conversion strategy. Financial terms were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

August 06, 2024 | 8:56 pm

CRC

California Resources Corporation (CRC) has provided its H2 2024 guidance, highlighting $30M in synergies from the Aera merger and $60M in interest savings. CRC has increased its annual dividend to $1.55 per share. The company expects Q3 net production of 141-145 MBoe/d with $90M-$110M in capital expenditures and $375M-$415M in adjusted EBITDAX. CRC repurchased 0.7M shares for $35M in Q2 and completed a $600M senior notes offering to repay debt.

Portfolio Pulse from Benzinga Newsdesk

August 06, 2024 | 8:40 pm