The Middleby Corporation (NasdaqGS:MIDD) entered into an agreement to acquire Masterbuilt Holdings LLC from Dominus Capital, L.P. for approximately $390 million on December 6, 2021. The consideration is payable in cash and will be funded under Middleby’s existing senior credit facility. The transaction is subject to customary closing conditions including regulatory approvals and is expected to close in December 2021. Transaction is expected to be accretive to adjusted EPS in 2022. William Blair and Sawaya Partners, LLC served as financial advisors, and White & Case LLP served as legal counsel for Masterbuilt. Shilpi Gupta, Douglas R. Nemec, Joseph M. Yaffe and Eric B. Sensenbrenner of Skadden, Arps, Slate, Meagher & Flom LLP acted as legal advisors for Middleby Corporation.
The Middleby Corporation (NasdaqGS:MIDD) completed the acquisition of Masterbuilt Holdings LLC from Dominus Capital, L.P. for approximately $410 million on December 27, 2021. The purchase price included $403.6 million in cash and 12,921 shares of Middleby common stock valued at $2.5 million. Middleby completed the acquisition for a purchase price of approximately $400.7 million, net of cash acquired. The purchase price is subject to adjustment based upon a working capital provision provided by the purchase agreement, which the company expects to finalize in the second quarter of 2022.