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Stock impact report

The New Quaker Chemical Has Arrived: Digesting The Houghton Acquisition [Seeking Alpha]

Quaker Houghton (KWR) 
Last quaker houghton earnings: 3/2 04:39 pm Check Earnings Report
Company Research Source: Seeking Alpha
The New Quaker Chemical Has Arrived: Digesting The Houghton Acquisition Summary Quaker Chemical is digesting the acquisition of Houghton, which it acquired at 12X EBITDA and 8.2 times the post-synergy EBITDA. It will take three years before the acquisition is fully integrated in Quaker's corporate structure. Quaker hiked its synergy expectations from $45M per year to $60M per year, making the acquisition even more appealing. The current debt ratio is quite high, but Quaker plans to rapidly reduce its net debt (while increasing the EBITDA). Introduction It has been almost a year since I last discussed Quaker Chemical ( KWR The acquisition has now been completed Although the transaction was announced in April year-end 2017 Quaker paid just over $170M in cash and issued 4.3 million shares to the sellers of Houghton which currently represents almost a quarter of Quaker’s share count. Additionally, Quaker was required to refinance almost $660M of debt. Quaker was able to draw down $930M (i Show less Read more
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