M&A - BROADWIND, INC.

Form Type: 8-K

Filing Date: 2025-06-05

Corporate Action: Acquisition

Type: New

Accession Number: 000117184325003691

Filing Summary: On June 4, 2025, Broadwind Heavy Fabrications, Inc., a wholly owned subsidiary of Broadwind, Inc., entered into an Asset Purchase Agreement with Wisconsin Heavy Fabrication, LLC, whereby Broadwind Heavy Fabrications agreed to sell certain assets from its Manitowoc, Wisconsin production facility. The total purchase price is up to $13,800,000, including a $7,000,000 Signing Payment held in escrow. Closing conditions include the continued employment of facility employees and the Seller's completion of outstanding orders. A Lease Termination Agreement was executed to terminate existing leases for the facility, paired with a new lease agreement for the Buyer. The transaction is anticipated to close in the third quarter of 2025, subject to applicable conditions, although the exact timing is uncertain. A related major definitive agreement termination occurred for the existing leases at the facility.