---
schema_version: "secwatch.filing_event.v1"
accession: "0001663577-23-000237"
form_type: "8-K/A"
ticker: "QIND"
cik: "0001393781"
company_name: "Quality Industrial Corp."
filed_at: "2023-05-15T23:59:59+00:00"
generated_at: "2026-06-15T00:51:09.798430+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# QIND closes 52% stake in Quality International; total consideration up to $137M

## Summary
- 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.

## SEC filing metadata
- accession: 0001663577-23-000237
- form_type: 8-K/A
- ticker: QIND
- cik: 0001393781
- company_name: Quality Industrial Corp.
- filed_at: 2023-05-15T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1393781/000166357723000237/0001663577-23-000237-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1393781/000166357723000237/qind8k_051223.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001663577-23-000237
- JSON: https://secwatch.observer/filing/0001663577-23-000237.json
- Plain text: https://secwatch.observer/filing/0001663577-23-000237.txt

## Key facts
- M&A Transactions
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1393781/000166357723000237/0001663577-23-000237-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.