other material
confidence high
sentiment positive
materiality 0.50
Matthews closes sale of European packaging and tooling businesses for $41M
MATTHEWS INTERNATIONAL CORP
- Total consideration of $41M: $22M cash, $12M assumed debt/pension, $7M seller financing.
- Cash proceeds of $18M received at close; remaining $4M due within six months.
- Adjusted EBITDA for these businesses was roughly break-even on ~$100M annual sales each of past two years.
- All cash proceeds will be immediately applied to debt reduction.