Hudson Technologies acquires USA Refrigerants for $20.7M + $2M earnout

HUDSON TECHNOLOGIES INC /NY

Acquired substantially all assets of USA Refrigerants for $20.7M cash at closing, plus up to $2M earnout payable ~18 months post-close.
USA generated average revenues of ~$20M per year over last three years; acquisition valued at ~6X EBITDA.
Hudson will create a dedicated refrigerant acquisition group combining USA's team to enhance purchasing of recovered refrigerants.
Amendment to Wells Fargo credit facility permits the acquisition and allows stock repurchases up to $5M per year ($15M aggregate).
Acquisition closed June 6, 2024; expected to drive increased sales of higher margin reclaimed refrigerants as phase-downs create imbalance.

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