Twin Disc To Acquire Veth Propulsion - Quick Facts

(RTTNews) - Twin Disc Inc. (TWIN) announced a definitive agreement to acquire Veth Propulsion Holding, B.V. and its wholly-owned subsidiaries, a global supplier of main and auxiliary marine propulsion products. The purchase price is approximately $58.6 million plus net cash. Additional consideration of up to approximately $3.9 million will be paid in Twin Disc common stock if certain earn-out provisions are met.

For calendar 2018, Veth Propulsion is expected to achieve sales of $60 million. The acquisition is expected to be accretive to Twin Disc's U.S. GAAP earnings by the second year of ownership, in fiscal year ended June 30, 2020.