NPK Announces Acquisition of Grassform Plant Hire Limited

Acquisition Details - NPK International Inc. announced the acquisition of Grassform Plant Hire Limited for an all-cash purchase price of £35.2 million ($46.4 million), with potential additional consideration based on performance through February 28, 2026 [1][2] - The acquisition was primarily funded using cash on hand and approximately $10 million of borrowings under the Company's U.S. credit facility [1] Company Overview - Grassform is a U.K. market leader in ground protection and temporary roadway solutions, operating a fleet of over 20,000 composite mats [1] - For the twelve months ended October 31, 2025, Grassform generated revenue of £15 million ($19 million) and EBITDA of £6 million ($8 million) [1] Strategic Implications - The acquisition is expected to enhance NPK's U.K. operations through increased scale and the addition of a skilled team, expanding market coverage [2] - The transaction aligns with NPK's growth strategy, focusing on scaling its rental business through geographic expansion and market share growth [2] - NPK anticipates meaningful opportunities in the U.K. market, supported by a robust outlook for infrastructure investments in the coming years [2]