Quality Industrial Corp. (QIND): M&A transaction — QIND closes 52% stake in Quality International; total consideration up to $137M

Quality Industrial Corp.

Total consideration up to $137M cash in six tranches tied to financial milestones; committed amount $82M.
Acquisition closed March 6, 2023; pro forma combined revenue $65.6M, net income $6.77M for FY2022.
Goodwill recorded $56.4M; minority interest $23.6M in pro forma balance sheet.
Target provides custom solutions for oil, gas, energy, water desalination, and wastewater 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 for up to $137,000,000 in cash (closed 2023-03-06).

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

Exact text from the filing

International Co Ltd FZC (the “Shares”). On Closing Date March 6, 2023, QIND completed acquision of Quality International . 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. The following

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Quality Industrial Corp. filing history →

Source: SEC EDGAR

accession 0001663577-23-000237

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