NPK Announces Acquisition of Grassform Plant Hire Limited
NPK International Inc. (NPKI)
Company Research
Source: Business Wire
Acquisition provides enhanced scale and strengthens core U.K. rental & service operations THE WOODLANDS, Texas--(BUSINESS WIRE)--NPK International Inc. (NYSE: NPKI) (“NPK” or the “Company”) today announced the acquisition of Grassform Plant Hire Limited (“Grassform”) for an all-cash purchase price of £35.2 ($46.4) million funded at closing, with additional potential consideration to be paid based upon improvements in Grassform’s trailing twelve month performance through its current fiscal year-end, February 28, 2026. The acquisition was funded primarily using cash on-hand, along with approximately $10 million of borrowings under the Company’s U.S. credit facility.Headquartered in Ingatestone, England, Grassform is a U.K. market leader in ground protection and temporary roadway solutions and services with a fleet of over 20,000 composite mats. For the twelve months ended October 31, 2025, Grassform generated revenue of £15 ($19) million and EBITDA of £6 ($8) million.“We are excited
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