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Stock Market & Financial Investment News

News Breaks
November 14, 2012
09:03 EDTNCNacco Industries announces one-time special dividend of $3.50 per share
The dividend will be paid December 14 to stockholders of record at the close of business on November 30.
News For NC From The Last 14 Days
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December 16, 2014
08:39 EDTNCHamilton Beach Brands acquires Weston Products
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08:31 EDTNCNacco Industries subsidiary acquires Weston Products
Hamilton Beach Brands, a wholly owned subsidiary of NACCO Industries, announced it acquired Weston Products from Highgate Capital LLC. Weston Products, which will become Weston Brands under Hamilton Beach Brands, develops, markets and distributes appliances and accessories under the proprietary Weston brand and private label brands. Hamilton Beach Brands acquired substantially all of the assets and assumed certain liabilities of Weston Products for cash consideration based on a multiple of Weston's estimated 2014 EBITDA. The final purchase price is subject to customary post-closing adjustments based on net working capital and EBITDA calculations. The acquisition was funded with cash on hand and borrowings under Hamilton Beach's existing revolving credit facility. For the last twelve months ended September 30, Weston had revenue of approximately $32.7M, pre-tax income of approximately $3.2M and EBITDA of approximately $3.3M. Hamilton Beach expects the acquisition to be accretive to earnings in 2015.

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