Energizer To Acquire HandStands From Trivest Partners - Quick Facts

(RTTNews) - Energizer Holdings, Inc. (ENR) announced it has agreed to acquire HandStands Holding Corp. from Trivest Partners for an aggregate cash purchase price of $340 million. Energizer intends to ultimately fund the acquisition through a combination of approximately $250 million of existing cash and committed debt facilities.

HandStands is a designer and marketer of automotive fragrance and appearance products. Inclusive of recent acquisitions, calendar year 2015 pro forma net sales were approximately $128 million, with approximately 80% in the U.S.

Energizer said, excluding one-time transaction and integration costs, earnings accretion from the transaction in the first full fiscal year following the close is estimated to be $0.15 to $0.20 per share and free cash flow is expected to increase by at least $20 million. In addition to revenue growth potential, Energizer anticipates cost synergies of approximately $5 million over a period of two years.