Twin Disc closes $16.5M acquisition of Kobelt, secures $65M credit facility

TWIN DISC INC

Acquired Kobelt Manufacturing for CAD $23.4M (USD $16.5M); paid CAD $23,397,932 at closing.
Kobelt generated ~$14M revenue in 2024; acquisition expected to be immediately accretive to GAAP earnings.
New $15M term loan (maturity Apr 2027) and $50M revolver with Bank of Montreal; refinances prior credit agreement.
Dividend capped at $5M per fiscal year under new credit agreement; borrowing base includes Kobelt receivables/inventory.
Kobelt adds brake, control, steering systems for marine/industrial; combined global sales and service team to expand reach.

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