Stran & Company, Inc. (SWAG): M&A transaction — Stran & Company completes acquisition of T R Miller; $2.15M cash plus earn-outs

Stran & Company, Inc.

Paid $2,154,230 in cash at closing; installment payments of $1.1M over 4 years and earn-out payments linked to gross profit above $4M.
T R Miller unaudited FY2022 revenue of approximately $19M; adds 20,000 sq ft decoration, fulfillment, and distribution center in Walpole, MA.
Tom Miller to continue under a consulting agreement; Stacy Miller appointed VP of Integration and Sales Development.
Acquisition is accretive and synergistic, according to management; marks fourth acquisition since start of 2022.

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

Stran & Company, Inc. completed an acquisition involving T R Miller Co., Inc. for $2,154,230.21 in cash (closed 2023-06-01).

Action: acquisition
Counterparty: T R Miller Co., Inc.
Consideration: $2,154,230.21 in cash
Closing: 2023-06-01

Exact text from the filing

On June 1, 2023, the Closing was completed. Pursuant to the Purchase Agreement, the Company paid T R Miller $2,154,230.21 in cash, reflecting the purchase price of $1,000,000 as adjusted by a $1,123,071.82 working capital adjustment

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Stran & Company, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-23-044681

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