Lydall Completes Acquisition of Gutsche
Lydall, Inc. (LDL)
Last lydall, inc. earnings: 4/30 04:30 pm
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Source: GlobeNewswire
- Solidifies Lydall as a global leader in industrial filtration markets - Further diversifies Lydall into complementary geographies and attractive adjacent markets with a leading brand - Combination creates further scale and unlocks operational synergies MANCHESTER, Conn., Jan. 03, 2017 (GLOBE NEWSWIRE) -- Lydall, Inc. (“Lydall” or the “Company”) (NYSE:LDL), today announced that it completed the previously announced purchase of MGF Gutsche GmbH & Co. KG (“Gutsche”) on December 30, 2016 for $58 million in cash. The Company used $32 million of borrowings from its existing revolving credit facility and the remainder was paid from cash on hand. The transaction positions Lydall as a global leader in needle punch nonwoven filtration solutions and strengthens the Company’s position as a premier provider of engineered technical materials. The acquisition expands the Company’s filtration and engineered materials product offerings into attractive adjacencies and diversifies the Company
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