Methode to Buy Pacific Insight in All-Cash Deal

摘要

CHICAGO - Methode Electronics has entered into a definitive agreement to acquire Pacific Insight Electronics for $114 million in an all-cash transaction. Methode will fund the total consideration of approximately $114 million with available cash and its existing credit facility. Methode expects the acquisition to be accretive to earnings in its current fiscal year ending Apr. 28. The purchase price represents a valuation multiple of 8.6 times Pacific Insight's adjusted EBITDA, excluding revenue and cost synergies, for the trailing 12 months ended Mar. 31, 2017.