M&A
confidence high
sentiment positive
materiality 0.75
CSWI to acquire Aspen Manufacturing for $313.5M cash; ~11x 2024 EBITDA
CSW INDUSTRIALS, INC.
- Purchase price $313.5M cash; 11x Aspen's 2024E adj. EBITDA of $28.5M; revenue $122.4M.
- Aspen manufactures evaporator coils and air handlers for HVAC/R; all US-designed and made.
- Expected close in Q1 FY2026 (Apr-Jun 2025); funded with cash and debt under $500M facility.
- Immediately accretive to CSWI's EPS and EBITDA.
- Expands HVAC/R product portfolio and leverages existing distribution channels.