Signature System
Assembly Line
Myers Industries Announces Acquisition of Signature Systems
Myers Industries, Inc., a leading manufacturer and distributor of industrial products, announced that it has entered into an Agreement and Plan of Merger through which it will acquire Signature Systems, a leader in composite ground protection solutions. Myers will acquire Signature for a total consideration of approximately $350 million, subject to customary adjustments. The transaction is expected to close in the first quarter of 2024 and to be neutral to slightly dilutive to US GAAP EPS in 2024, but then deliver EPS accretion of $0.20-$0.30 in 2025, $0.40 - $0.50 in 2026 and additional meaningful EPS accretion beyond 2026. Annualized run-rate operational and cost synergies of $8 million are expected to be fully captured by 2025.