CSWI - CSW Industrials +10% after announcing TRUaire acquistion

CSW Industrials ([[CSWI]] +9.8%) is acquiring TRUaire for approximately $360M, subject to standard regulatory approvals and other customary conditions.The proposed purchase price is approximately 10x TRUaire’s expected 2020 adjusted EBITDA. TRUaire sells through wholesale distribution and retail channels, with HVAC/R technicians and homeowners as primary end users.CSWI anticipates funding the transaction with a combination of cash on hand, debt under its existing $300M credit facility, and approximately 850K shares of common stock issued to the sellers, with closing expected to occur by calendar year-end."This acquisition will allow us to expand our existing HVAC/R platform with a compelling portfolio of best-in-class products, while leveraging our existing distribution channels, and serving the same customers that we serve today," CEO Joseph Armes declared. "TRUaire has a demonstrated track-record of profitable growth, product innovation, and resiliency through economic cycles, while maintaining an exceptional reputation for customer service and product quality. This acquisition will enable

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CSW Industrials +10% after announcing TRUaire acquistion