ATC Venture (ATC) to Acquire K-W Manufacturing in $500K + Royalty Deal

August 10, 2012 9:09 AM EDT
ATC Venture Group Inc. (AMEX: ATC) has entered into an asset purchase agreement with K-W Manufacturing Company, a South Dakota-based manufacturer of patented snow plows, dozer blades, rock pickers, and other attachments for the skid steer loader market (“KW”), pursuant to which the Company has agreed to purchase from KW certain of its assets, including equipment, contracts and associated good-will in consideration for an aggregate purchase price of $500,000 and a royalty agreement of 5% of sales of the KW product line for each of the next 5 years.

Consummation of this acquisition is subject to the Company’s completion of its final due diligence investigation and audit, as well as other customary closing conditions.

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