AZZ incorporated Signs Agreement To Acquire Nuclear Logistics Inc.

AZZ incorporated announced that it has entered into an agreement to acquire substantially all of the assets of Nuclear Logistics, Inc. (NLI). The acquisition, including the expiration or early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act, is anticipated to close on June 1, 2012. The Asset Purchase Agreement provides for the acquisition by AZZ of substantially all of the assets of NLI for cash consideration in the amount of $80 million and the assumption of current liabilities plus $4.8 million of notes payable, which will be paid at closing. Additionally, pursuant to the Asset Purchase Agreement, AZZ could be obligated to make an additional payment of up to $20 million to NLI based on the future financial performance of the Assets.