Twin Disc, Incorporated entered into a definitive agreement to acquire Katsa Oy for ?21 million.
March 05, 2024
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Twin Disc, Incorporated (NasdaqGS:TWIN) entered into a definitive agreement to acquire Katsa Oy for ?21 million on March 5, 2024. The closing of the Purchase Agreement and the transactions contemplated thereby is subject to certain conditions, including, among others, the accuracy of the parties? representations and warranties, no material adverse effect having occurred with respect to Katsa?s business, regulatory approval by the Ministry of Economic Affairs and Employment of Finland, continued employment of certain key persons of Katsa, and other customary closing conditions.
The Purchase Agreement and the transactions contemplated by the Purchase Agreement have been approved by the Board of Directors of Twin Disc. The Purchase Agreement may be terminated by Katsa or TD Finland if certain conditions required to be fulfilled by the other party are not satisfied or waived by June 30, 2024. The transaction is expected to close in the first half of calendar year 2024.
Twin Disc, Incorporated designs, manufactures and sells marine and heavy duty off highway power transmission equipment. The Company has two reportable segments: Manufacturing and Distribution. The Companyâs products offered include marine transmissions, azimuth drives, surface drives, propellers and boat management systems as well as power-shift transmissions, hydraulic torque converters, power take-offs, industrial clutches, controls systems and non-Twin Disc manufactured products. The Company sells its products to customers primarily in the pleasure craft, commercial and military marine markets, as well as in the energy and natural resources, government and industrial markets. The Company has manufacturing locations in the United States, Belgium, Italy, Switzerland, and the Netherlands. In addition to these countries, it has distribution locations in Singapore, China, Australia, and Japan.
TWIN DISC, INCORPORATED 
