Investing For Growth - New Products and Research
Acquisition Of BASX Solutions
TRANSACTION
TERMS
FINANCIAL BENEFITS
OF THE
TRANSACTION
AAON
•
Upfront payment of $100M
Additional $80M payments are subject to earn-out milestones that extend out through 2023
Acquisition of real estate property utilized by BASX for $22M in separate transaction
POTENTIAL
SYNERGIES
•
•
Excluding upfront acquisition-related expenses and non-cash purchase accounting
amortization costs, the Company anticipates the acquisition will be accretive to earnings
The full value of the earn-outs reflect EBITDA more than doubling by 2023
.
Anticipate the combined entity will result in material cost savings over the three years
following the acquisition close
Revenue synergies related to scale, cross-selling opportunities and geographic footprint
•
Upfront payment of $100M fully financed with cash
FINANCING
TIMING
Earn-outs will be paid with AAON stock
•
Closed on December 10, 2021
Real estate property closed in May 2022
1999View entire presentation