CECO Environmental Corp. acquired Kemco Systems, Co. LLC $34.9 million.
CECO Environmental Corp. (NasdaqGS:CECO) completed the acquisition of Kemco Systems, Co. LLC for $34.9 million on August 23, 2023. Under the consideration terms, CECO paid $24 million in cash and an additional earn-out payments up to $4 million based upon specified financial results through August 31, 2026. CECO received $0.4 million from the former owners of Kemco as a working capital adjustment, reducing the purchase price to $23.6 million, which was financed with a draw on the Company?s revolving credit facility. As a part of acquisition, CECO also assumed a total of $7.257 million of liabilities of Kemco.