Kaydon Corporation (KDN) to Acquire Fabreeka Group for $54 Million
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Kaydon Corporation (NYSE: KDN) has entered into a definitive agreement to purchase all of the outstanding shares of Stoughton, Massachusetts-based Fabreeka Group Holdings, Inc. (“Fabreeka”). The $54 million acquisition will be financed with availability under Kaydon’s existing $250 million credit facility. The acquisition is subject to customary conditions to closing and is expected to close in the second quarter of 2012.
Fabreeka had sales of approximately $27 million in 2011 and will join Kaydon’s Velocity Control Products segment. Kaydon expects the transaction to be accretive within the first twelve months of ownership.
Fabreeka had sales of approximately $27 million in 2011 and will join Kaydon’s Velocity Control Products segment. Kaydon expects the transaction to be accretive within the first twelve months of ownership.
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