WOR - Worthington buys Shiloh's U.S. BlankLight business in $105M deal

Worthington Industries (WOR) agrees to acquire certain assets of Shiloh Industries' (SHLO) U.S. BlankLight business, a provider of laser welded solutions, for $105M.Worthington says the deal expands the capacity and capabilities of its TWB Company laser welded products joint venture, with the addition of three facilities and adding a blanking facility to its steel processing business.The acquired assets generated net revenue of $170.5M and adjusted EBITDA of $20.5M in 2020.Worthington "has a great long term value creating track record, a strong balance sheet following its exit in Nikola, and very profitable joint ventures," The Value Investor writes in a bullish analysis posted on Seeking Alpha.

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Worthington buys Shiloh's U.S. BlankLight business in $105M deal