TestEquity Acquires Test Equipment Provider Interworld Highway for USD 55m.
MANews-(C)2009-2022
US-based test and measurement equipment and solutions provider TestEquity has completed its acquisition of New Jersey based test equipment provider Interworld Highway, LLC, including Tequipment, offering electrical testing equipment and products, for USD 55m to broaden resources, solutions, and product selection offerings, the company said.
TestEquity expects to fund the acquisition from its credit facility. The business is currently anticipated to generate annual sales of more than USD 110m, annual adjusted EBITDA in excess of USD 7m and be accretive to the company's current year earnings.
Chicago-based speciality distribution holding company Lawson Products, Inc. (NASDAQ: LAWS) includes Lawson Products, TestEquity and Gexpro Services.
The acquisition is expected to deliver synergies...
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