Cemtrex closes $2.4M acquisition of Heisey Mechanical; expects accretion in Q4 FY2023

CEMTREX INC

Total consideration: $2.16M cash plus $240K seller note; funded via $2.16M term loan from Fulton Bank.
Heisey adds ~$11.6M in annual revenue and ~$775K adjusted EBITDA (4-year average).
Real estate purchase for $1.5M expected later in July; no new shares issued.
Acquisition is highly synergistic with AIS subsidiary, expanding fabrication, water treatment markets, and customer base.
Deal closed July 1, 2023; Cemtrex expects accretive impact starting Q4 fiscal 2023.

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