CSW Industrials to acquire MARS Parts for $650M; Q2 debt paydown and share repurchase

CSW INDUSTRIALS, INC.

Acquires MARS Parts for $650M cash + up to $20M earn-out; represents 10.5x synergies-adjusted EBITDA.
Expected close in fiscal Q3 2026; funded via syndicated term loan and $700M revolver; no financing condition.
MARS Parts TTM adjusted EBITDA $51.8M; CSW expects 30%+ EBITDA margin run rate within 12 months of close.
Q2 FY2026: paid down $35M debt, leaving $60M on revolver; repurchased $18.3M of stock.
CEO Joe Armes' succession award vesting date extended to April 2032; Board affirmed his continued service.

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