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BRIEF-Thermon announces strategic acquisition of CCI Thermal Technologies for CAD $258 million
October 4, 2017 / 11:48 AM / 2 months ago

BRIEF-Thermon announces strategic acquisition of CCI Thermal Technologies for CAD $258 million

Oct 4 (Reuters) - Thermon Group Holdings Inc:

* Thermon announces strategic acquisition of CCI Thermal Technologies Inc. for CAD $258 million

* ‍Deal will be financed with cash on hand as well as a new senior secured debt facility​

* ‍Acquisition is expected to be accretive to operating margins, free cash flow and GAAP eps in fiscal 2019​

* ‍Expects to realize annualized run-rate cost synergies of approximately CAD $2.4 million during fiscal year ending March 31, 2019​

* New debt will be structured as a senior secured term loan facility of USD $250 million

* Expects to realize annualized run-rate cost synergies of about CAD $2.4 million during fiscal year ending March 31, 2019 from deal

* New debt will also include a senior secured revolving credit facility of USD $60 million​ Source text for Eikon: Further company coverage:

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