RTI (RTI) Completes $180M Acquisition of Remmele Engineering
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RTI International Metals, Inc. (NYSE: RTI), announced that it has completed its acquisition of Remmele Engineering, Inc., a provider of precision machining and collaborative engineering, as well as other key technologies and services, for the aerospace and defense and medical device sectors.
RTI and Remmele announced a stock purchase agreement for RTI to acquire Remmele on January 10, 2012. The acquisition of Remmele builds upon RTI’s goal of becoming a fully integrated supplier of advanced titanium components across the entire supply chain.
RTI acquired Remmele from Goldner Hawn Johnson & Morrison Incorporated for a total sum of approximately $182.0 million, a reduction from the previously announced transaction value of $182.5 million. The mix of consideration has changed to approximately $179.0 million in cash and the assumption of approximately $3.0 million of equipment leases.
Barclays Capital acted as financial advisor to RTI, and Buchanan Ingersoll & Rooney PC acted as RTI’s legal advisor. Greene Holcomb & Fisher LLC was the financial advisor to Remmele, and Faegre Baker Daniels LLP acted as the legal advisor.
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RTI and Remmele announced a stock purchase agreement for RTI to acquire Remmele on January 10, 2012. The acquisition of Remmele builds upon RTI’s goal of becoming a fully integrated supplier of advanced titanium components across the entire supply chain.
RTI acquired Remmele from Goldner Hawn Johnson & Morrison Incorporated for a total sum of approximately $182.0 million, a reduction from the previously announced transaction value of $182.5 million. The mix of consideration has changed to approximately $179.0 million in cash and the assumption of approximately $3.0 million of equipment leases.
Barclays Capital acted as financial advisor to RTI, and Buchanan Ingersoll & Rooney PC acted as RTI’s legal advisor. Greene Holcomb & Fisher LLC was the financial advisor to Remmele, and Faegre Baker Daniels LLP acted as the legal advisor.
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