2023-07-24 09:19:56 ET
- Live Ventures ( NASDAQ: LIVE ) said on Monday that it has acquired Precision Metal Works (PMW) for about $28M, comprised of $25M cash, with additional consideration of up to $3M paid in the form of an earn-out.
- The acquisition involved no issuance of stock of Live Ventures.
- Live Ventures believes the acquisition will be immediately accretive to earnings and said it will add $75M annual revenue stream from the deal.
- Kentucky-based Precision Metal Works manufactures and supplies highly engineered parts and components.
- As per the deal, Live Ventures will retain PMW’s existing management team and all its employees.
- LIVE +0.9% after hours to $26.06.
- Source: Press Release
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Live Ventures acquires Precision Metal Works for about $28 million