The transaction is expected to close in the fourth quarter of 2023, subject to regulatory approvals and other typical closing conditions.
MB Aerospace is estimated to generate approximately $330 million of revenue and $65 million of EBITDA in calendar year 2023.
Barnes (B) estimated the effective purchase price multiple will be approximately 11.4 times 2023 EBITDA and 8.9 times inclusive of pro forma estimated run-rate cost synergies.
Barnes plans to finance the transaction with cash on hand and additional acquisition financing. Upon closing, Barnes estimates net leverage to be between 3.7 times and 3.9 times consolidated EBITDA, with a plan to reduce net leverage to below 3.0 times within 12 months and 2.5 times within 24 months following closing.
