Enpro to acquire AMI for $210M cash; accretive to Sealing Technologies growth and adjusted EPS

Enpro Inc.

Purchase price of $210M cash represents ~13x AMI's normalized 2023 EBITDA.
AMI's analyzers and sensors serve midstream natural gas, biogas, cryogenics, and other markets.
Deal expected to close in early 2024 subject to regulatory approvals and other limited conditions.
Accretive to Sealing Technologies segment revenue growth, profitability, and Enpro adjusted diluted EPS.
No financing condition or seller indemnification; $210M includes payouts for in-the-money stock options.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Enpro Inc. entered into Stock Purchase Agreement with AMI Holdco, Inc. (AMI), the Sellers, and McNally Capital – AMI SPV, LLC as representative valued at $210 million in cash (effective 2023-12-22).

Action: entry
Agreement: asset purchase
Counterparty: AMI Holdco, Inc. (AMI), the Sellers, and McNally Capital – AMI SPV, LLC as representative
Value: $210 million in cash
Effective: 2023-12-22

Exact text from the filing

On December 22, 2023, EnPro Holdings, Inc. (“EnPro Holdings”), a direct, wholly owned subsidiary of Enpro Inc. (the “Company”), entered into a Stock Purchase Agreement dated as of December 22, 2023 (the “Purchase Agreement”) with AMI Holdco, Inc. (“AMI”), the Sellers party thereto (the “Sellers”) and McNally Capital – AMI SPV, LLC, as representative of the Sellers, providing for the sale by the Sellers to EnPro Holdings of all issued and outstanding capital stock of AMI (the “Purchase Transaction”) for $210 million in cash

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Enpro Inc. filing history →

Source: SEC EDGAR

accession 0001140361-23-059726

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