Skip to main content

CSW Industrials Completes Previously Announced Acquisition of TRUaire

Written by Customer Service on . Posted in Public Companies.

DALLAS, Dec. 15, 2020 (GLOBE NEWSWIRE) — CSW Industrials, Inc. (NASDAQ: CSWI) today announced it has completed the acquisition of TRUaire. This strategic acquisition expands CSWI’s heating, ventilation, air conditioning, and refrigeration (HVAC/R) product offering, and incorporates TRUaire’s market leading grille, register, and diffuser products.
The acquisition complements CSWI’s existing HVAC/R solutions portfolio, including its condensate management platform, ductless accessories, and chemical offerings. By leveraging CSWI’s go-to-market strategy, strong distribution channels, and deep experience in the HVAC/R market, this acquisition is expected to drive increased customer share of wallet, while providing an enhanced service offering. CSWI’s existing investments in technology and e-commerce will drive efficiency in TRUaire’s operations.Consideration for this acquisition included $284 million of cash and the issuance of approximately 850,000 shares of common stock to the sellers. CSWI funded the cash portion of the acquisition with cash on hand and borrowings under its recently-upsized revolving credit facility. After giving effect to the transaction, CSWI maintains sufficient liquidity with approximately $60 million of availability on its revolving credit facility.Joseph B. Armes, CSW Industrials Chairman, President, and Chief Executive Officer, commented, “We are pleased to complete the TRUaire acquisition and to welcome approximately 1,600 new colleagues to CSW Industrials. TRUaire allows us to expand our existing HVAC/R platform with a compelling portfolio of best-in-class products, while leveraging our existing distribution channels to better serve our customers. This acquisition will enable us to continue to drive sustainable, profitable growth, while delivering value to all of CSWI’s shareholders.”For additional information about CSWI’s acquisition of TRUaire, please visit the previously released transaction documents, including the November 5, 2020 press release, conference call and investor presentation, which are available on CSW Industrials’ Investor Relations website at www.cswindustrials.com.Safe Harbor Statement
This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. Words or phrases such as “may,” “should,” “expects,” “could,” “intends,” “plans,” “anticipates,” “estimates,” “believes,” “forecasts,” “predicts” or other similar expressions are intended to identify forward-looking statements, which include, without limitation, earnings forecasts, effective tax rate, statements relating to our business strategy and statements of expectations, beliefs, future plans and strategies and anticipated developments concerning our industry, business, operations, and financial performance and condition.The forward-looking statements included in this press release are based on our current expectations, projections, estimates, and assumptions. These statements are only predictions, not guarantees. Such forward-looking statements are subject to numerous risks and uncertainties that are difficult to predict. These risks and uncertainties may cause actual results to differ materially from what is forecast in such forward-looking statements, and include, without limitation, the risk factors described from time to time in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K.All forward-looking statements included in this press release are based on information currently available to us, and we assume no obligation to update any forward-looking statement except as may be required by law.About CSW Industrials
CSWI is a diversified industrial growth company with well-established, scalable platforms and domain expertise across two segments: Industrial Products and Specialty Chemicals. CSWI’s broad portfolio of leading products provides performance optimizing solutions to its customers. CSWI’s products include mechanical products for HVAC/R applications, sealants, and high-performance specialty lubricants. Markets that CSWI serves include: HVAC/R, architecturally-specified building products, general industrial, plumbing, rail, energy, and mining. For more information, please visit www.cswindustrials.com. Investor Relations
Adrianne D. Griffin
Vice President, Investor Relations, & Treasurer
214-489-7113
adrianne.griffin@cswi.com

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.