MYERS INDUSTRIES INC (MYE): M&A transaction — Myers Industries completes $350M acquisition of Signature Systems, funded with new term loan A

MYERS INDUSTRIES INC

Cash transaction of $350M; funded via $250M revolver and $400M term loan A ($50M above initial plan).
Pro forma net leverage ~3.0x; expected to drop below 2.0x within two years using free cash flow.
Signature expected to deliver $0.20-$0.30 EPS accretion in 2025 and $0.40-$0.50 in 2026.
Annualized run-rate synergies of $8M to be fully captured by 2025.
Signature's results to be reported within Myers' Material Handling segment.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

MYERS INDUSTRIES INC completed an acquisition involving Signature CR Intermediate Holdco, Inc. for $350,000,000 (closed 2024-02-08).

Action: acquisition
Counterparty: Signature CR Intermediate Holdco, Inc.
Consideration: $350,000,000
Closing: 2024-02-08

Exact text from the filing

“Merger”), with Signature as the surviving entity in the Merger. Pursuant to the terms of the Merger Agreement, the Company acquired Signature for aggregate consideration of $350,000,000. The foregoing description of the Merger and the Merger Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Agreement

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106 m&a transactions filed in the last 30 days. Browse all m&a transactions →

MYERS INDUSTRIES INC filing history →

Source: SEC EDGAR

accession 0000950170-24-012759

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