Griffon closes sale of AMES Australasia to JV; receives $181M cash, $49M PIK note, 49% stake

GRIFFON CORP

Received AUD $258M ($181M) cash and AUD $69.3M ($48.6M) PIK note at 10% interest, maturing in 6-10 years.
Griffon holds 49% equity in JV; management-led group holds 51%.
Repaid $285M Term Loan B with proceeds and revolver borrowings.
Pro forma financials reflect removal of AMES Australasia and AMES North America as discontinued ops.
AMES U.K. wind-down also completed; assets held for sale.

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