Cemtrex, Inc. acquired Heisey Mechanical, Ltd. for $2 million.
July 06, 2023
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Cemtrex, Inc. acquired Heisey Mechanical, Ltd. for $2 million on July 1, 2023. Cemtrex acquired Heisey Mechanical for $2.4 million, with $2.16 million in cash and a $0.24 million seller?s note and the real estate the business occupies is expected to be purchased later in July for $1.5 million. Cemtrex funded the transaction with a $2.16 million term loan from Fulton Bank, no new shares were issued in connection with this acquisition. The acquisition closed on July 1, 2023, and is expected to be accretive beginning in Q4 FY2023. The acquisition brings over $11.6 million in immediately accretive annual revenue and approximately $775K in adjusted EBITDA
Cemtrex, Inc. completed the acquisition of Heisey Mechanical, Ltd. on July 1, 2023.
Cemtrex, Inc. is an advanced security technology and industrial services company. The Company's segments include Security and Industrial Services. The Security segment operates under the Vicon Industries brand, which provides end-to-end security solutions to corporate, industrial, and governmental security. Vicon's products include browser-based video monitoring systems and analytics-based recognition systems, cameras, servers, and access control systems for security and surveillance. Vicon provides mission-critical security and video surveillance solutions utilizing artificial intelligence (AI) based data algorithms. The Industrial Services segment operates under the brand, Advanced Industrial Services (AIS), that offers services for rigging, millwrighting, in plant maintenance, equipment erection, relocation, and disassembly to diversified customers. The Company also operates as a service contractor and steel fabricator that specializes in industrial and water treatment markets.
CEMTREX, INC. 
