Chase Corporation CCF announced that it has acquired 100% of the capital stock of NEPTCO, Inc. . The purchase price on a debt free, cash free basis was $67.0 million, excluding any working capital adjustments and acquisition related costs.
As part of this transaction, Chase is also acquiring NEPTCO's 50% ownership stake in a joint venture. NEPTCO revenues were $69.5 million in their most recently completed year ended December 31, 2011 excluding $25.8 million attributable to the joint venture. NEPTCO's adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) was $11.3 million for the same fiscal period.
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