North American Pipe Corporation entered into an equity purchase agreement to acquire LASCO Fittings, Inc. from Aalberts N.V. for approximately $250 million.

North American Pipe Corporation entered into an equity purchase agreement to acquire LASCO Fittings, Inc. from Aalberts N.V. (ENXTAM:AALB) for approximately $250 million on July 4, 2021. The consideration is subject to certain closing date adjustments as set forth in the Purchase Agreement. In related transaction, Aalberts has divested Adex B.V. Lasco Fittings, Inc. generating an annual revenue of approximately $150 million. Lasco's 560 employees will be retained and transfer to Westlake. As of August 5, 2021, Westlake Chemical Corporation entered into an underwriting agreement with respect to the issuance and sale in an underwritten public offering of $300 million aggregate principal amount of its 0.875% senior notes due 2024, $350 million aggregate principal amount of its 2.875% senior notes due 2041, $600 million aggregate principal amount of its 3.125% senior notes due 2051 and $450 million aggregate principal amount of its 3.375% senior notes due 2061. Westlake Chemical intends to use the net proceeds from the Offering to fund the acquisition of Lasco Fittings. The proposed transaction is subject to customary closing conditions, including the expiration or termination of the applicable waiting period under the U.S. Hart-Scott-Rodino Antitrust Improvements Act of 1976, and is expected to close during third quarter of 2021. As of August 3, 2021, transaction is expected to close in the second half of 2021. Robert W. Baird & Co. Incorporated acted as financial advisor to Aalberts N.V.