Brady Enters Exclusive Negotiations To Acquire Gravotech Holding
(RTTNews) - Brady Corp. (BRC) announced Friday that it has entered into exclusive negotiations to acquire Gravotech Holding for approximately 123 million euros or $133 million.
Brady expects to fund the transaction with cash on hand as well as with borrowings on its existing credit agreement.
The acquisition of Gravotech will add specialized direct part marking and engraving capabilities to Brady's extensive product identification offering.
The company expects to close the transaction by the end of its fiscal year ending July 31, 2024, subject to prior completion of the information-consultation processes under French law and closing conditions, including regulatory clearances.
Excluding acquisition-related costs, Brady expects this acquisition to be immaterial to earnings per diluted share for the remainder of the fiscal year ending July 31, 2024.
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