secwatch.observer — SEC 8-K summary
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Issuer:     BRADY CORP (BRC)
CIK:        0000746598
Form:       8-K
Filed at:   2026-04-21T23:59:59+00:00
Accession:  0000746598-26-000014
Event type: m_and_a
Sentiment:  positive
Materiality: 0.90
Item codes: 1.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Brady Corp to acquire Honeywell's PSS business for $1.4B cash, ~8x EBITDA
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- Purchase price $1.4B, ~8x 2025 EBITDA; PSS generated $1.1B sales in 2025 with 3,000 employees.
- Transaction expected to close H2 2026; funded via new debt and cash on hand; net debt/EBITDA ~2.5x.
- Acquisition immediately double-digit accretive to adjusted diluted EPS; at least $25M annual run-rate cost synergies within 3 years.
- Combined company gains PSS mobile computing, scanning, RFID, software, expanding into $9B productivity solutions market.
- Brady expects to delever below 2.0x net debt/EBITDA within 2 years post-close; maintains strong balance sheet.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/746598/000074659826000014/0000746598-26-000014-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/746598/000074659826000014/brc-20260420.htm
  HTML page:      https://secwatch.observer/filing/0000746598-26-000014

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