Mayville Engineering Company Inc. (MEC), a provider of design, prototyping, and manufacturing solutions, announced in a recent press release a definitive agreement to acquire privately held Mid-States Aluminum Corp. (MSA) for a total consideration of approximately $96 million, subject to customary adjustments.
Wisconsin-based MSA is a vertically integrated manufacturer of custom aluminum extrusions and fabrications. MSA offers services that include design, engineering, extrusions, fabrication, anodizing and finishing, assembly, and packaging. It operates two facilities in Fond du Lac.
The proposed acquisition is expected to close during the third quarter 2023, subject to the satisfaction of customary closing conditions.
Based on current expectations and market conditions, MEC expects that the MSA acquisition will contribute between $30–$35 million of net sales and between $4–$6 million in Adjusted EBITDA for the fiscal year 2023.
