Steel & Tube completes acquisition of Perry Metal Protection
Steel & Tube Holdings (NZX:STU) announced the completion of the acquisition of Perry Metal Protection on May 1, 2025. The total acquisition price is NZD43.3 million, with a possible additional payment of up to NZD6 million based on asset performance over 2-3 years post-acquisition. The payment structure consists of 70% cash and 30% newly issued Steel & Tube shares. A total of 15,476,755 new shares were issued for the deal. The purchase price is around 5 times Perry Metal Protection’s historical three-year EBITDA. Steel & Tube expects the acquisition to be immediately accretive to earnings, adding 1.5 cents per share in the first year.
This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com
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