Perimeter Solutions Announces Agreement to Acquire MMT for $685 Million

Core Viewpoint - Perimeter Solutions, Inc. has announced a definitive agreement to acquire Medical Manufacturing Technologies LLC for approximately $685 million in cash, which includes certain tax benefits [1][2]. Company Overview - Medical Manufacturing Technologies LLC (MMT) is a leading provider of highly engineered machinery and aftermarket consumables for minimally invasive medical devices, generating nearly all revenue from proprietary products, with about half from the aftermarket [2]. - MMT is projected to generate approximately $140 million in revenue and $50 million in Adjusted EBITDA for the full year of 2025 [2]. Strategic Fit - The acquisition of MMT aligns with Perimeter Solutions' operating strategy, focusing on recurring and growing aftermarket services that meet stringent regulatory standards [3]. - MMT has a strong track record of organic and M&A-driven growth, which Perimeter expects to continue [3]. Financial Structure - Perimeter plans to fund the acquisition through $500 million of new secured debt financing and $185 million in cash on hand [4]. - Following the acquisition, Perimeter anticipates a net leverage profile of approximately 2.7 times net debt to combined Adjusted EBITDA for the last twelve months ended September 30, 2025 [5]. Transaction Timeline - The acquisition is expected to close in the first quarter of 2026, pending regulatory approvals and customary closing conditions [5].