Innophos (IPHS) to Acquire Kelatron in $21M Deal
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Innophos Holdings, Inc. (Nasdaq: IPHS), has entered into a binding agreement and completed the acquisition of Kelatron Corporation.
The acquisition is structured as a stock purchase by Innophos' wholly owned subsidiary, Innophos, Inc. of Kelatron's holding company, KI Acquisition, Inc., for a purchase price of $21 million, subject to specified adjustments. KI Acquisition, Inc. is a portfolio company of Hadley Capital and First Analysis. Closing of the transaction occurred upon execution of the purchase agreement effective as of October 31, 2011. The acquisition is expected to be accretive to results in 2012.
The acquisition is structured as a stock purchase by Innophos' wholly owned subsidiary, Innophos, Inc. of Kelatron's holding company, KI Acquisition, Inc., for a purchase price of $21 million, subject to specified adjustments. KI Acquisition, Inc. is a portfolio company of Hadley Capital and First Analysis. Closing of the transaction occurred upon execution of the purchase agreement effective as of October 31, 2011. The acquisition is expected to be accretive to results in 2012.
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