MUELLER INDUSTRIES INC acquired H&C Flex (Hart & Cooley flexible duct business) for approximately $15.3 million; $14.0 million cash at closing plus $1.3 million contingent consideration, a transaction completed in January 2021, structured as all cash. The deal was a Asset purchase.
H&C Flex (Hart & Cooley flexible duct business) operates in Climate (Flex Duct), is based in United States. The Hart & Cooley flexible duct business, including inventory, manufacturing equipment, and related assets, manufactures insulated HVAC flexible duct systems. Treated as a business combination and reported as H&C Flex.
The acquisition expands the Company's footprint in the air quality and climate control systems market and complements the existing flexible duct business within the Climate segment.
Expands footprint in air quality and climate control; complements the existing flexible duct business. Climate segment (Flex Duct, alongside ATCO)
On December 20, 2020, the Company entered into an asset purchase agreement with Hart & Cooley LLC. The transaction closed on January 29, 2021, whereby the Company purchased the Hart & Cooley flexible duct business... for approximately $15.3 million. The total purchase price consisted of $14.0 million in cash paid at closing and a contingent consideration arrangement of $1.3 million.Mueller Industries FY2021 10-K, Acquisitions note
Advisory firms were not disclosed for this transaction.