Innospec Unit Buys Strata Control Services
Innospec Inc. (Nasdaq: IOSP) today announced that a subsidiary of Innospec has acquired Strata Control Services Inc., a private company. The transaction, which was completed on December 24, 2012, includes a performance element in the purchase price and represents between 6x 2012 EBITDA and 5x 2013E EBITDA. The deal is expected to be accretive to Innospec within the first year.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.