Azz inc. to acquire precoat metals from sequa corporation

Fort worth, texas, march 7, 2022 /prnewswire/ -- azz inc. ("azz" or the "company") (nyse: azz), a global provider of galvanizing and metal coating solutions, welding solutions, specialty electrical equipment and highly engineered services for maintaining and building critical infrastructure, and sequa corporation ("sequa"), a portfolio company of global investment firm carlyle (nasdaq: cg), jointly announced today that they have entered into a definitive agreement whereby azz will acquire sequa's precoat metals business division ("precoat") for a purchase price of approximately $1.28 billion.  when adjusted for the net present value of approximately $150 million of expected net tax benefits, the net purchase price is approximately $1.13 billion, which represents approximately 8.2x precoat's adjusted ebitda for the twelve months ended december 31, 2021.
AZZ Ratings Summary
AZZ Quant Ranking