07:43 AM EDT, 04/11/2024 (MT Newswires) -- Decisive Dividend Corp. ( DEDVF ) , which lost 3.5% yesterday, overnight Wednesday said that it has bought Techbelt Ltd. for $6.3 million, from arm's length parties.

The company said it fully funded the deal through a drawdown on its syndicated credit facility. Out of the total base purchase price, the company paid $5.7 million in cash and $0.6 million in common shares.

The deal is expected to be immediately accretive to Decisive and represents on a pro forma basis an increase to the company's 2023 pro forma sales of 3% and an increase in adjusted EBITDA and adjusted EBITDA per share of 4%.

One of the vendors of Techbelt, Simon Sparkes, has committed to leading Techbelt for at least the next three years.

Techbelt is a manufacturer of polytetrafluoroethylene conveyor belts, PTFE tapes, and PTFE materials, which are used in a wide range of end markets including food and beverage, packaging, textiles, agriculture, and fast-moving consumer goods.