Klöckner & Co has agreed to acquire National Material of Mexico (“NMM”) via its U.S. subsidiary Kloeckner Metals Corporation (“KMC”). NMM is a leading independent service center and materials supplier serving automotive and industrial end markets in North America.

The parties have agreed on a consideration of USD 340 million on a cash and debt free basis. With an Enterprise Value multiple of around 6.7 based on the expected 2022 EBITDA, this represents a highly attractive and directly value-accretive expansion of Klöckner & Co’s activities.

Closing of the transaction requires antitrust approvals and is expected before summer 2023.