Diploma PLC (LSE:DPLM) agreed to acquire Peerless Aerospace Fastener Corp. for approximately $300 million on March 27, 2024. As a part of consideration, Diploma PLC will make an initial payment of $287.92 million will be made in cash to Polar Holdings Inc. on closing, with the remaining 3.5% to be paid to management based on Peerless's FY27 performance.

Peerless Aerospace Fastener Corp. reported revenue of $107.7 million, EBIT of $33.5 million and Gross assets of $84 million for a period of 12 months and year ending September 30, 2023. The transaction is subject to customary closing condition and is expected to be completed in next few weeks.