MEC to acquire Accu-Fab for $140.5M; accretive to margins, enters data center & power markets

Mayville Engineering Company, Inc.

Total consideration of $140.5M for Accu-Fab, a metal fabricator serving critical power, data center, and renewable energy OEMs.
Accu-Fab's 2024 net sales ~$61M, Adjusted EBITDA ~$14M (23%+ margin); acquisition immediately accretive to MEC's EBITDA margin and EPS.
Expected to close in Q3 2025; financed via cash and borrowings under existing $250M credit facility, with $50M incremental commitment.
Pro-forma net debt/Adjusted EBITDA ~3.0x initially; MEC plans to reduce to 1.5x-2.0x within 18 months post-close.
Anticipates $28M-$32M net sales and $6M-$8M Adjusted EBITDA contribution from Accu-Fab for 2025.

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