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LSI Industries Acquires EMI Industries for $50 Million
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LSI Industries Acquires EMI Industries for $50 Million
Apr 19, 2024 3:15 AM

04:17 AM EDT, 04/19/2024 (MT Newswires) -- LSI Industries ( LYTS ) said late Thursday it has acquired Florida-based metal and millwork manufacturer EMI Industries for $50 million in cash.

EMI Industries had about $87 million in revenue and $5.5 million in adjusted earnings before interest, taxes, depreciation and amortization of $5.5 million in 2023.

The deal was funded using the company's available cash and borrowings from its existing credit facility, the company said.

The company expects the deal to be immediately accretive to earnings per share.

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