Klöckner & Co to acquire National Material of Mexico

Duisburg, Germany, December 19, 2022, 6:29 pm – Klöckner & Co has agreed to acquire National Material of Mexico (“NMM”) via its U.S. subsidiary Kloeckner Metals Corporation (“KMC”). NMM is a leading independent service center and materials supplier serving automotive and industrial end markets in North America.

The parties have agreed on a consideration of USD 340 million on a cash and debt free basis. With an Enterprise Value multiple of around 6.7 based on the expected 2022 EBITDA, this represents a highly attractive and directly value-accretive expansion of Klöckner & Co’s activities.

Closing of the transaction requires antitrust approvals and is expected before summer 2023.    

For the definition of EBITDA reference is made to our homepage (accessible via https://www.kloeckner.com/en/glossary.html) and/or the annual report 2021, p. 36 (accessible via https://www.kloeckner.com/en/investors/publications.html).

Issuer: Klöckner & Co SE, Am Silberpalais 1, 47057 Duisburg, Germany

The shares of Klöckner & Co SE are admitted to trading on the regulated market segment (Regulierter Markt) of the Frankfurt Stock Exchange (Frankfurter Wertpapierbörse) with further post-admission obligations (Prime Standard). Klöckner & Co shares are listed in the SDAX^®-Index of Deutsche Börse.

ISIN: DE000KC01000; WKN: KC0100; Common Code: 025808576.