Latest news with #buildingproducts
Wall Street Journal
3 days ago
- Business
- Wall Street Journal
Soul Patts, Brickworks to Cement Ties With $9 Billion Merger
SYDNEY—Australian investment manager Washington H. Soul Pattinson SOL 8.43%increase; green up pointing triangle and building-products maker Brickworks BKW 15.41%increase; green up pointing triangle agreed to merge into a single company worth US$9 billion, cementing a formal relationship that began almost 60 years ago. The companies, which have held stakes in each other since 1969 as protection against hostile takeovers, on Monday said that they plan to cancel their cross-holdings and form a group with significantly increased scale and liquidity.
Yahoo
3 days ago
- Business
- Yahoo
Soul Patts to takeover building products affiliate in $9 billion merger
(Reuters) - Australian investment company Washington H Soul Pattinson will buy out its building products affiliate Brickworks in a deal valuing the latter at A$4.62 billion ($3 billion), the companies said on Monday. The deal would merge the companies and a new Australia-listed firm would be established with an expected valuation of A$14 billion ($9 billion). Stockholders in Washington H Soul Pattinson would own 72% of the newly formed company. Holders of Brickworks would own 19% while the remainder would be offered to new shareholders. Soul Patts has a 43% shareholding in Brickworks and Brickworks owns 26% of Soul Patts. The new entity has received commitments worth A$550 million in shares, fully underwritten by Aitken Mount Capital. Soul Patts is offering an implied value of A$30.28 for every Brickworks share, a 10.1% premium to the stock's last close. ($1 = 1.5523 Australian dollars) ($1 = 1.5513 Australian dollars) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Associated Press
16-05-2025
- Business
- Associated Press
Capstone Reaffirms $100M Revenue Target for 2025, Accelerates M&A Strategy with Flexible Growth Capital
Capstone Holding Corp. Highlights - Q1 2025 & 2025 Outlook ALSIP, IL / ACCESS Newswire / May 16, 2025 / Capstone Holding Corp. (NASDAQ:CAPS), a national platform of building products distribution businesses, today announced its financial and strategic highlights for the first quarter of 2025 and reaffirmed full-year 2025 guidance. The Company continues to target a $100 million revenue run-rate and $10 million in adjusted EBITDA by year-end, driven by a disciplined mix of organic growth and accretive acquisitions. 'Our strategy is working. We are reaffirming our 2025 targets' said Matthew Lipman, Chief Executive Officer of Capstone. 'Through a disciplined M&A approach, favorable valuations, and solid on the ground execution, we are positioned to double the size of our business in the near term. We remain focused on earnings growth and margin expansion while protecting shareholder value.' 'The Equity Line of Credit gives us the flexibility to act quickly and efficiently on M&A opportunities without burdening our capital structure,' further explained Mr. Lipman. 'We intend to use the facility only for transactions that are immediately accretive to earnings - ensuring that any share issuance is tied directly to profitability.' Instone Subsidiary: Positioned for Second-Half Upside Capstone's Instone business delivered margin performance within target range in Q1 and maintained disciplined cost control with SG&A tracking to about an $8 million annual run-rate. While project timing was affected by severe weather conditions in the Northeast and Midwest, activity is expected to normalize by Q3. Instone also expanded geographically and continued rolling out proprietary products including Toro and Pangea, with momentum expected to accelerate into Q3. Access to Full Materials Capstone has posted an investor presentation and audio commentary discussing Q1 2025 and its strategic outlook. These materials are available in the Investor Relations section of About Capstone Holding Corp. Capstone Holding Corp. (NASDAQ:CAPS) is a diversified platform of building products businesses focused on distribution, brand ownership, and acquisition. Capstone's Instone subsidiary currently serves 31 U.S. states, with proprietary offerings including stone veneer, landscape stone, and modular masonry systems. Capstone's strategy blends organic growth with disciplined accretive M&A, supported by a shareholder-aligned capital structure. Investor Contact: Investor Relations Capstone Holding Corp. [email protected] Forward-Looking Statements This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. These statements relate to future events and performance, including guidance regarding revenue and EBITDA targets, M&A strategy, use of capital, and operating outlook. Actual results may differ materially from those projected due to a range of factors, including but not limited to acquisition timing, macroeconomic conditions, and execution risks. Please review the Company's filings with the SEC for a full discussion of risk factors. Capstone undertakes no obligation to revise forward-looking statements except as required by law. SOURCE: Capstone Holding Corp. press release
Washington Post
08-05-2025
- Business
- Washington Post
Griffon: Fiscal Q2 Earnings Snapshot
NEW YORK — NEW YORK — Griffon Corp. (GFF) on Thursday reported net income of $56.8 million in its fiscal second quarter. The New York-based company said it had profit of $1.21 per share. Earnings, adjusted for non-recurring costs, were $1.23 per share. The garage door and building products maker posted revenue of $611.7 million in the period.
