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.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.