Alamo Reports 0.7x Pro Forma Leverage After Econ Acquisition
Photo: TokenPost
Alamo Group reported pro forma net leverage of about 0.7 times adjusted EBITDA after completing its Econ Engineering acquisition, while reaffirming a target of up to 2.5 times. The 0.7x figure reflects the company’s post-acquisition leverage; 2.5x is its target ceiling. Alamo completed its purchase of 100% of Econ Engineering Group Limited on Oct. 27 for about $158.7 million, subject to customary closing adjustments. The company funded the acquisition with borrowings from its revolving credit facility. After the deal, Alamo had $206.6 million in remaining revolver availability and an additional $400 million accordion feature.
Source: TokenPost
