This Slide: #43 of 47 |
Slide #43. Synalloy Corporation — Lee-Var, Inc., dba Palmer of Texas
Acquirer:
Synalloy Corporation (SYNL)
Acquiree:
Lee-Var, Inc., dba Palmer of Texas
Details:
Synalloy Corporation announced that as previously reported on August 13, 2012, Synalloy entered into an agreement to purchase the stock of Lee-Var, Inc., dba Palmer of Texas. On August 21, 2012, the Company closed the transaction contemplated by the Stock Purchase Agreement. The acquisition was funded through a Credit Agreement with its current bank to increase the limit of its line of credit by $5,000,000 to a maximum of $25,000,000 and extended the maturity date to August 21, 2015. The Credit Agreement also included a ten-year term loan for $22,500,000 that requires equal monthly payments of $187,500 plus interest.
Synalloy has two segments, the Metals Segment and the Specialty Chemicals Segment. The Metals Segment includes its subsidiaries: Bristol Metals, LLC, which manufactures welded pipe and tube, primarily from stainless steel, duplex, and nickel alloys; and American Stainless Tubing, LLC, which is a manufacturer of ornamental stainless steel tube, supplying the automotive, commercial transportation, marine, food services, construction, furniture, healthcare, and other industries. The Specialty Chemicals Segment includes its subsidiaries, Manufacturers Chemicals, LLC and CRI Tolling, LLC, which produce specialty formulations and intermediates for use in a variety of applications and industries.
Open the SYNL Page at The Online Investor »
|
Open the SYNL Page at The Online Investor (in a new window) »
Free SYNL Email Alerts: Get SEC Filing Alerts Get Dividend Alerts |
Strong Buy (4.00 out of 4) 100th percentile
(ranked higher than approx. 100% of all stocks covered)
Based on Zacks ABR data; powered by Xignite |