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Insteel Industries Acquires Assets Of Engineered Wire Products For $70M In An Asset Transaction; The Transaction Was Funded From Cash On Hand.

Author: Benzinga Newsdesk | October 21, 2024 04:27pm

Insteel Industries Inc. (NYSE:IIIN) today announced that its wholly-owned subsidiary, Insteel Wire Products Company (together referred to as "Insteel" or the "Company" in this press release), has acquired Engineered Wire Products, Inc. ("EWP") for $70.0 million in an asset transaction, subject to certain adjustments. The transaction was funded from cash on hand.

EWP is a leading manufacturer of welded wire reinforcement products for use in nonresidential and residential construction. For the twelve months ended September 30, 2024, EWP's sales were $93.3 million.

Posted In: IIIN IINN


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