Malibu Boats agrees to buy $33.25M industrial property in Tennessee for new facility

MALIBU BOATS, INC.

Agreement to purchase 39.6-acre property with 260,288 sq ft industrial building for $33.25M cash.
Funding via cash on hand or revolver; $6.65M deposit due within 1 day, plus $1.12M modification escrow.
Closing occurs 10 days after construction completion; deal must close by Sept 30, 2023 or buyer can terminate.
Property located at 450 Hamilton Industrial Way, Lenoir City, Tennessee 37771.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 1.0

MALIBU BOATS, INC. entered into Purchase and Sale Agreement with Knoxville Logistics Center, LLC valued at $33,250,000 (effective 2023-03-28).

Action: entry
Agreement: asset purchase
Counterparty: Knoxville Logistics Center, LLC
Value: $33,250,000
Effective: 2023-03-28

Exact text from the filing

On March 28, 2023, Malibu Boats, LLC, an indirect wholly-owned subsidiary of Malibu Boats, Inc., (the “Company”) entered into a Purchase and Sale Agreement (the “Agreement”) with Knoxville Logistics Center, LLC, a Delaware limited liability company (the “Seller”).

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MALIBU BOATS, INC. filing history →

Source: SEC EDGAR

accession 0001590976-23-000019

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