Quanex Building Products Acquires LMI Custom Mixing Assets from Lauren International
November 1, 2022
Quanex Building Products Corporation acquired substantially all assets of LMI Custom Mixing, LLC from Lauren International for $92.0 million ($79.0 million net of present value tax benefits). The Cambridge, Ohio-based custom polymer mixer is expected to generate about $80 million of revenue and ~15% EBITDA margin in fiscal 2023; Quanex financed the deal with cash on hand and borrowings on its existing revolver and expects modest near-term synergies while expanding its materials science and vertical integration capabilities.
- Buyers
- Quanex Building Products Corporation
- Targets
- LMI Custom Mixing, LLC
- Sellers
- Lauren International
- Industry
- Manufacturing
- Location
- Ohio, United States
- Transaction Type
- Divestiture
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