Quality Industrial Corp. (QIND): M&A transaction — Quality Industrial completes purchase of 52% of Quality International for up to $137M cash

Quality Industrial Corp.

Transaction closed March 6, 2023; purchase price up to $137M in cash paid in six tranches.
First two tranches of $1M and $15M paid; third tranche of $66M due within 210 days.
Remaining $55M contingent on Quality International achieving minimum audited EBITDA targets for 2023 and 2024.
Quality International manufactures custom solutions for oil & gas, energy, water, and public safety sectors.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Quality Industrial Corp. completed an acquisition involving shareholders of Quality International Co Ltd FZC for up to $137,000,000 in cash (closed 2023-03-06).

Action: acquisition
Counterparty: shareholders of Quality International Co Ltd FZC
Consideration: up to $137,000,000 in cash
Closing: 2023-03-06

Exact text from the filing

which includes a Shareholders Agreement for the ongoing governance of Quality International, and the transaction has closed. The purchase price for the Shares shall be up to $137,000,000 in cash, paid in six tranches, subject to the achievement of financial milestones presented in a schedule of payments which are set forth in the Purchase Agreement. We have paid

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Quality Industrial Corp. filing history →

Source: SEC EDGAR

accession 0001663577-23-000103

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