Deal Snapshot
ESSENDANT, GENUINE PARTS´ SP RICHARDS BUSINESS PRODUCTS DISTRIBUTION UNIT MERGE
Monday 16 April 2018

US-based workplace items distributor Essendant (NASDAQ: ESND) and US-based automotive replacement parts distributor Genuine Parts Company (NYSE: GPC) have entered into a definitive agreement to combine Essendant and Genuine Parts company's S.P. Richards business products distribution business, the companies said.
The transaction, which has been unanimously approved by the boards of Essendant and Genuine Parts, is expected to be tax free to the companies' respective shareholders. This transaction creates a company with pro forma 2017 net sales of approximately USD 7bn, USD 300m in Adjusted EBITDA, 4.2% Adjusted EBITDA margins.


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Details
Date Published: 16/04/2018
Target: S.P. Richards
Country: USA
Deal Size: 680m (USD)
Sector: Motor Vehicles
Type: Merger
Financing: Stock
Status: Agreed
Vendor: Genuine Parts Company
Buyer: Essendant
Comment:
Reverse Morris Trust deal. Genuine Parts shareholders will own approximately 51% and Essendant shareholders will own approximately 49% of the combined company

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