secwatch.observer — SEC 8-K summary
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Issuer:     KEWAUNEE SCIENTIFIC CORP /DE/ (KEQU)
CIK:        0000055529
Form:       8-K/A
Filed at:   2025-01-16T23:59:59+00:00
Accession:  0001193125-25-007212
Event type: m_and_a
Sentiment:  positive
Materiality: 0.75
Item codes: 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Kewaunee closes Nu Aire acquisition for $55M; audited Nu Aire FY24 net income $5.44M
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- Kewaunee acquired Nu Aire for $55M on Nov 1, 2024, using $35M bank financing and $23M seller notes at 8%.
- Nu Aire FY2024 revenue $74.85M (down 8% YoY), net income $5.44M (up 84% from $2.96M).
- Nu Aire had no debt, $13.46M cash; acquisition enterprise value ~$41.5M.
- Nu Aire gross margin improved to 31.6% in FY2024 from 28.3% in FY2023.
- Pro forma financials filed; combined entity with increased scale and profitability profile.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/55529/000119312525007212/0001193125-25-007212-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/55529/000119312525007212/d915304d8ka.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-007212

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