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Stock Market & Financial Investment News

News Breaks
December 28, 2012
18:15 EDTCVGICommercial Vehicle acquires Daltek for $13.2M, sees adding 7c to FY13 EPS
Commercial Vehicle Group announced that it has acquired substantially all of the assets of Daltek, a company specializing in the application of customized industrial hydrographic films, paints and other interior and exterior finishes. Daltek has two leased facilities in Dalton, Georgia and employs 42 full-time associates. Total cash consideration for the transaction was approximately $13.2M; 80% paid at closing while the remainder is payable one year after the closing date, as negotiated by the parties. For FY13, the company expects the acquisition to achieve revenues of approximately $13.2M, operating income of approximately $3.2M and depreciation and amortization expense of approximately $0.6M. The company expects the acquisition to be incremental to diluted EPS by approximately 7c for FY13.
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