TREX CO INC (TREX): M&A transaction — Trex sells commercial products business to Sightline for $8.25M; expects $13-16M after-tax loss

TREX CO INC

Purchase price $8.25M; Trex expects after-tax loss of $13-16M in Q4 2022.
Trex Commercial segment had sales of $35.1M (3.8% of total) and net loss of $2.4M for 9 months ended Sep 30, 2022.
Sightline offered employment to all Trex Commercial employees; Trex agrees to 5-year non-compete on commercial railing systems.
Trex to focus resources on outdoor living growth opportunities and composite decking leadership.

item 1.01 item 2.01 item 7.01 item 9.01

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

TREX CO INC completed a disposition involving Sightline Commercial Solutions, LLC for $8,250,000 (closed 2022-12-30).

Action: disposition
Counterparty: Sightline Commercial Solutions, LLC
Consideration: $8,250,000
Closing: 2022-12-30

Exact text from the filing

The transaction had a simultaneous signing and closing date of December 30, 2022. In exchange for the assets, Sightline agreed to pay Trex Commercial $8,250,000 (Purchase Price), subject to certain adjustments.

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

TREX CO INC entered into Agreement with Sightline Commercial Solutions, LLC valued at $8,250,000 (effective 2022-12-30).

Action: entry
Agreement: asset purchase
Counterparty: Sightline Commercial Solutions, LLC
Value: $8,250,000
Effective: 2022-12-30

Exact text from the filing

On December 30, 2022, Trex Commercial Products, Inc. (Trex Commercial), a wholly-owned subsidiary and reporting segment of Trex Company, Inc. (the Company), the Company and Sightline Commercial Solutions, LLC (Sightline) entered into a definitive asset purchase agreement (Agreement) whereby Trex Commercial sold and assigned to Sightline, and Sightline purchased and assumed from Trex Commercial, substantially all the assets, and certain specified liabilities, of Trex Commercial

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TREX CO INC filing history →

Source: SEC EDGAR

accession 0001193125-22-315320

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