M&A - INSTEEL INDUSTRIES INC

Form Type: 10-Q

Filing Date: 2025-01-16

Corporate Action: Acquisition

Type: Update

Accession Number: 000143774925001254

Filing Summary: Insteel Industries Inc. filed its Q1 2025 10-Q report detailing significant corporate developments including the acquisition of Engineered Wire Products, Inc. (EWP) on October 21, 2024, for $67 million. This acquisition, funded by cash on hand, is expected to enhance Insteel's geographic footprint and competitive positioning within the Midwest market. The company reports a net sales increase of approximately $7.6 million from EWP's operations for the three-month period ending December 28, 2024. In addition, the report showcases a decrease in cash and cash equivalents, alongside ongoing operational developments. The company outlined substantial restructuring charges related to the integration of EWP and the closure of the Warren facility.

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