Enpro Closes USD 850m Acquisition of NxEdge.

MANews-(C)2009-2021

North Carolina, US-based industrial technology company EnPro Industries, Inc. (NYSE: NPO) has closed the acquisition of Idaho, US-based advanced manufacturing, cleaning, coating, and refurbishment business NxEdge, Inc., focussed on the semiconductor value chain, from Trive Capital for USD 850m in cash, the company said.

Enpro expects to finance the all-cash acquisition with a combination of cash and borrowings under its revolving credit facility and additional term loan debt.

Upon closing, NxEdge will become part of Enpro's Advanced Surface Technologies segment. Together, the combined business will offer differentiated, integrated solutions with expanded customer relationships and a diversified geographic reach.

The transaction marks a step in Enpro's multi-faceted strategy to position itself in secularly growing, high-margin industrial technology-related businesses with aftermarket exposure and recurring revenue streams.

NxEdge serves customers across the semiconductor supply chain, including top tier global integrated device manufacturers and original equipment manufacturers from six main...

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