Lydall to acquire Gutsche for $58M in cash
Lydall announced that it has entered into an agreement to acquire MGF Gutsche GmbH for approximately $58M in cash. The transaction will further position Lydall as a global leader in needle punch nonwoven filtration solutions and strengthen the company's position as a premier provider of engineered technical materials. The acquisition will expand the company's filtration product offerings into attractive adjacencies and diversify the company's geographic revenue base. The transaction is expected to close at year end, subject to receipt of customary merger control approval from German competition authorities and the completion of specified closing conditions. The transaction is expected to be financed through a combination of cash on hand and borrowings from the company's revolving credit facility.