Alpha assembly solutions, inc. completed the acquisition of kester inc. from illinois tool works inc. (nyse:itw) for $68 million.

Alpha assembly solutions, inc. entered into an agreement to acquire kester inc. from illinois tool works inc. (nyse:itw) on november 20, 2019. element solutions inc (nyse:esi), parent of alpha assembly solutions, inc., will make kester a part of the macdermid alpha business. the transaction will close effective december 2, 2019. alpha assembly solutions, inc. completed the acquisition of kester inc. from illinois tool works inc. (nyse:itw) for $68 million on december 3, 2019. the consideration was paid in cash. the transaction was funded by cash on hand. in addition, element solutions repriced $744 million term loan b to reduce borrowing cost by 25 basis points or approximately $2 million in annual interest expense. the cumulative impact of these two transactions expected to be approximately 3% to 4% accretive to adjusted eps in 2020.
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