Eastern Announces the Acquisition of Velvac
Eastern Company (The) (EML)
US:NASDAQ Investor Relations:
easterncompany.com
Company Research
Source: Business Wire
Together, the companies expand their line of uniquely proprietary products for the heavy and medium duty truck, motorhome and specialty vehicle markets. Consideration is $39.5 million plus future earnout based on growth of Velvac’s Road-iQTM business. The transaction is expected to be breakeven including purchase accounting expenses but before one-time transaction costs in the current fiscal year and accretive to earnings in Fiscal 2018. 1 Velvac will become an independent subsidiary of The Eastern Company. Jeff Porter, its President and CEO, will continue to lead the business. NAUGATUCK, Conn.--(BUSINESS WIRE)-- The Eastern Company (“Eastern”) (NASDAQ:EML) today announced that it has reached an agreement to acquire 100% of the outstanding shares of Velvac Holdings (“Velvac”), the premier designer and manufacturer of proprietary vision t
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EML
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- 3/21/24 - TheStreet
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- 3/20/24 - Form 4
- 3/19/24 - Form 4
- 3/19/24 - Form 4
- EML's page on the SEC website