Make earnings with no risk
Automated AI-driven system makes the trades, you earn the money
Join now

P&F Industries to be Acquired for $41.5 Million by ShoreView Industries


P&F Industries, a leading manufacturer of tools and accessories, has announced that it will be acquired by private-equity firm ShoreView Industries in an all-cash deal. The deal, valued at about $41.5 million, will see ShoreView pay $13.00 per share to take P&F Industries private.

Tools Powered by Compressed Air

P&F Industries’ Florida Pneumatic subsidiary specializes in the production of tools that are powered by compressed air, offering a reliable alternative to traditional electric or battery-powered tools. Their product range includes sanders, drills, and impact wrenches. In addition, the company’s Hy-Tech business manufactures accessories and replacement parts for a variety of industries.

Share Value and Performance

With an outstanding share count of approximately 3.19 million, the acquisition values P&F Industries at $41.5 million. Despite challenges faced by the industry, shares of P&F have surged nearly 31% this year, closing at $6.60 on Thursday.

Planned Timeline

The acquisition is expected to be completed in the fourth quarter, pending regulatory approval. Richard Horowitz, P&F Chief Executive and Chairman, has already committed to voting his shares, which account for over 45% of outstanding shares, in favor of the deal.

India’s Trade Deficit Narrows in September

Previous article

The Risky Proposal to Fund Social Security with Stock Market Profits

Next article

You may also like


Leave a reply

Your email address will not be published. Required fields are marked *

More in News