Nucor Corporation completed the acquisition of Hannibal Industries, Inc. from Employee Stock Ownership Plan of Hannibal Industries, Inc.
August 19, 2021
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Nucor Corporation (NYSE:NUE) entered into an agreement to acquire Hannibal Industries, Inc. from Employee Stock Ownership Plan of Hannibal Industries, Inc. for $370 million on July 20, 2021. Consideration of $370 million represents 6.9x EBITDA for the trailing-twelve months ended March 2021. Hannibal Industries, Inc. reported an EBITDA of $53.62 million for the year ended March 31, 2021. Closing of the transaction is pending approvals. The transaction is expected to close in August of 2021. Lincoln Partners Advisors LLC acted as exclusive financial advisor to Hannibal Industries, Inc.
Nucor Corporation (NYSE:NUE) completed the acquisition of Hannibal Industries, Inc. from Employee Stock Ownership Plan of Hannibal Industries, Inc. on August 20, 2021. Hannibal employees will join Nucor.
Nucor Corporation is one of the leading American steel production groups. Products are sold to the automotive, household appliance, construction, mechanical, and similar sectors, etc. Net sales break down by activity as follows:
- production of hot and cold rolled steels (66.2%): sheet metals (52.5% of sales), bars (25%), flat products (11.7%) and structural products (10.8%);
- manufacturing of steel products (26.7%): fasteners, girders, beams, precision bands, concrete rounds, wire mesh, metal construction systems, etc.;
- processing and transformation of steel and metal scrap (7.2%). The group is also involved in buying and selling iron alloys and non-ferrous metals.
NUCOR CORPORATION 
