Quanex Building Products Agrees To Acquire Woodcraft Industries
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Imperial Capital Cuts Price Target on Quanex (NX) Following Announced Woodcraft Industries Acquisition
September 1, 2015 7:21 AM EDTImperial Capital reiterated an Outperform rating on Quanex Building Products (NYSE: NX), and cut the price target to $22.00 (from $23.50), as the company continues to pick-up M&A deals. Following closely on the heels of the recent acquisition of U.K.-based HL Plastics, on 8/31/15, NX announced the acquisition of Woodcraft Industries, a... More
Quanex (NX) to Acquire Woodcraft Industries in $248.5M Deal
August 31, 2015 9:06 AM EDTQuanex (NYSE: NX) today announced that it has significantly broadened its product portfolio and service model by entering into an agreement to acquire Woodcraft Industries ("Woodcraft"), a premier supplier of doors and components to leading original equipment manufacturers ("OEMs") in the kitchen and bathroom cabinet industry. The all-cash transaction, which is expected to close in the 4th calendar quarter of 2015, is valued at approximately $248.5M and will be funded with a combination of cash on-hand, a new asset-based revolving credit facility and a new term loan, each of which will be entered into... More
