Wabash National has completed its previously announced acquisition of Walker Group Holdings, a leading producer of liquid transportation systems and engineered products based in New Lisbon, Wisconsin, for an all-cash purchase price of US$360 million, subject to customary post-closing adjustments.
Commenting on the transaction, Wabash National's President and Chief Executive Officer, Richard Giromini said, “I am pleased to formally welcome Walker's leadership team and associates to Wabash National. The acquisition brings together two complementary, leading transportation equipment organizations. The addition of Walker to our Diversified Products segment further advances our diversification efforts and bolsters our growth platform into higher margin products.”
Commenting on the completion of the acquisition financing, Mark Weber, Chief Financial Officer, said, “We are extremely pleased with the reception Wabash's financings received in both the debt and equity capital markets and believe we have now put in place a capital structure for Wabash that not only supports the Walker acquisition, but also provides the Company with substantial flexibility and liquidity throughout the terms of these issuances. We are very excited to have completed this transaction, and look forward to integrating best practices and implementing strategic growth initiatives across the combined entity.”