MW Industries completed the transaction to acquire NN, Inc.'s Life Sciences division. The Life Sciences division will be combined with MW Industries, a portfolio company of American Securities.
Life Sciences will be operated and financed separately from MW Industries. Life Sciences and MW's existing medical division (including Marox, Economy Spring & Stamping and LaVezzi Precision) demonstrate complementary manufacturing capabilities and offer different product portfolios.
Under the terms of the transaction, NN, Inc.'s Life Sciences division was purchased for $825 million, including $755 million in cash at closing and an additional $70 million earnout payable in cash based on the 2022 performance of the Life Sciences division.
MW Industries provides engineered springs, specialty fasteners, metal stampings, tubular components and other precision components.