Matrix Service completes sale of Orange CA facilities for $37.6M; records $32.8M pre-tax gain

MATRIX SERVICE CO

Base sales price of $37.6M cash; net proceeds approximately $37.2M after customary adjustments.
Pre-tax gain of $32.8M; NOLs fully offset gain, no federal taxes expected.
Transaction recorded in fiscal Q4 2022; proceeds to support ongoing business.
Company leases back facilities for up to 24 months while seeking a new location for western operations.
Sale driven by increased west coast real estate value; company continues Southern California operations.

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