CSW Industrials Completes Previously Announced Accretive, Synergistic Acquisition of Aspen Manufacturing

Core Viewpoint - CSW Industrials, Inc. has successfully completed the acquisition of Aspen Manufacturing for approximately $313.5 million in cash, enhancing its HVAC/R product offerings and expected to drive market share gains [1][2][4] Group 1: Acquisition Details - The acquisition price of $313.5 million represents about 11 times Aspen Manufacturing's estimated 2024 adjusted EBITDA of $28.5 million [1] - The funding for the acquisition was sourced from cash on hand and borrowings under an existing $500 million revolving credit facility, while maintaining sufficient liquidity and a strong balance sheet [1] Group 2: Strategic Implications - This acquisition is expected to expand CSW Industrials' HVAC/R product offerings by incorporating Aspen Manufacturing's leading evaporator coils and air handlers [2] - The integration of Aspen Manufacturing is anticipated to enhance CSW's service offerings and maximize market channels, leveraging its established distribution channels and manufacturing expertise [2] Group 3: Product Overview - Aspen Manufacturing's product suite includes a wide range of high-quality residential and light commercial evaporator coils, blowers, and air handling units, all designed and assembled in the United States [3]