Enpro Inc. completed the acquisition of Advanced Micro Instruments, Inc. from McNally Capital, LLC.
January 28, 2024
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Enpro Inc. (NYSE:NPO) entered into a definitive agreement to acquire Advanced Micro Instruments, Inc. from McNally Capital, LLC for $210 million on December 22, 2023. The acquisition is expected to be accretive to segment revenue growth and profitability, in addition to Enpro?s adjusted diluted earnings per share. The transaction is subject to limited closing conditions, including regulatory approvals, the absence of any order of a court prohibiting the consummation of the Purchase Transaction, the expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, and the absence of a material adverse effect on the financial condition or results of operations of AMI and its subsidiaries, taken as a whole, occurring after the date of the Purchase Agreement. The Purchase Agreement does not include a financing condition to EnPro Holdings? obligation to complete the Purchase Transaction. The transaction is expected to close in early 2024. William Blair & Company, L.L.C. acted as financial advisor to Advanced Micro Instruments. Ropes & Gray LLP served as legal counsel supporting the transaction on behalf of the sellers.
Enpro Inc. (NYSE:NPO) completed the acquisition of Advanced Micro Instruments, Inc. from McNally Capital, LLC on January 29, 2024.
Enpro, Inc. is an industrial technology company. The Company is focused on critical applications across many end-markets, including semiconductor, industrial process, commercial vehicle, sustainable power generation, aerospace, food and pharma, photonics and life sciences. The Company operates in two segments: Sealing Technologies and Advanced Surface Technologies. The Sealing Technologies segment includes three operating divisions: Garlock, Technetics and STEMCO, which serves various industries, including pharmaceutical, food and beverage, pulp and paper, metals and mining, marine, water/wastewater, chemical processing, and power generation markets. The Advanced Surface Technologies segment includes four operating businesses: Technetics Semi, LeanTeq, Alluxa, and NxEdge, which applies technologies, processes, and capabilities to deliver differentiated suites of products and services for the applications in markets.