Myers Industries has entered into an Agreement and Plan of Merger through which it will acquire Signature Systems (19.55)
- Signature Systems, a global ground protection leader, bolsters Myers' margin and profitability profile, and provides an attractive platform for continued growth.
- The Signature Systems acquisition enhances Myers' traditional strength of free cash flow generation and advances Myers from Horizon 1 to Horizon 2 in its strategic growth plan.
- Acquisition delivers $8 million in annualized operational and cost synergies implemented by 2025.
- US GAAP EPS projected to be flat to slightly dilutive in 2024, with $0.20 - $0.30 per share accretion in 2025, $0.40 - $0.50 per share accretion in 2026 and additional meaningful accretion beyond 2026.