Brush Engineered Materials (BW) Acquires Barr Associates for $55 Million; Accretive to 2010 Earnings
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Brush Engineered Materials Inc. (NYSE: BW) announced that the Company, through its wholly-owned subsidiary, Williams Advanced Materials Inc. (WAM), has acquired privately held Barr Associates, Inc.
The transaction, valued at approximately $55 million, was financed with internally generated cash and proceeds of approximately $25 million from the Company's $240 million revolving line of credit. The acquisition is expected to be accretive to earnings in 2010.
Based in Westford, Massachusetts, Barr Associates, Inc. has approximately 300 employees in three leased facilities in the Westford area.
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