Twin Disc, Incorporated completed the acquisition of Katsa Oy from Timo Salli and Jouko Salli.
May 30, 2024
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Twin Disc, Incorporated (NasdaqGS:TWIN) entered into a definitive agreement to acquire Katsa Oy from Timo Salli and Jouko Salli for ?21 million on March 5, 2024. As on September 30, 2023 Katsa Oy reported revenue of ?33 million. The Company intends to use the increased borrowing capacity under the Credit Agreement to help finance its acquisition of Katsa Oy by TD Finland Holding Oy, a wholly-owned subsidiary of the Company. The Tenth Amendment specifically permits the Company to use Revolving Loans for the Katsa Oy acquisition. The closing of the Purchase Agreement and the transactions contemplated thereby is subject to certain conditions, including, among others, the accuracy of the parties? representations and warranties, no material adverse effect having occurred with respect to Katsa?s business, regulatory approval by the Ministry of Economic Affairs and Employment of Finland, continued employment of certain key persons of Katsa, and other customary closing conditions. The Purchase Agreement and the transactions contemplated by the Purchase Agreement have been approved by the Board of Directors of Twin Disc. The Purchase Agreement may be terminated by Katsa or TD Finland if certain conditions required to be fulfilled by the other party are not satisfied or waived by June 30, 2024. The transaction is expected to close in the first half of calendar year 2024.
Twin Disc, Incorporated (NasdaqGS:TWIN) completed the acquisition of Katsa Oy from Timo Salli and Jouko Salli on May 31, 2024.
Twin Disc, Incorporated designs, manufactures and sells marine and heavy duty off-highway power transmission equipment. The Company has two reportable segments: Manufacturing and Distribution. The Companyâs products offered include marine transmissions, azimuth drives, surface drives, propellers and boat management systems, as well as power-shift transmissions, hydraulic torque converters, power take-offs, industrial clutches, and control systems. The Company sells its products to customers primarily in the pleasure craft, commercial and military marine markets, as well as in the energy and natural resources, government and industrial markets. The Company also designs and manufactures gearboxes and power transmission components. It provides modeling, modernization, gearbox repair and maintenance services as well as spare parts. The Companyâs worldwide sales to both domestic and foreign customers are conducted through a direct sales force and a distributor network.
TWIN DISC, INCORPORATED 
