Insteel Industries acquires EWP for $70M; expands Midwest footprint

INSTEEL INDUSTRIES INC

Purchase price approximately $70M, subject to inventory adjustment; funded from cash on hand.
EWP's trailing twelve-month sales through Sept 30, 2024 were $93.3M.
Acquires EWP's inventories, production equipment, and facilities in Upper Sandusky and Warren, Ohio.
Also acquires certain equipment of Liberty Steel Georgetown Inc. in South Carolina; Georgetown facility excluded.
CEO H.O. Woltz III cites expanded geographic reach and operational synergies as key benefits.

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