Flexible Solutions Buys Clean Chemistry for $12.5M
Ticker: FSI · Form: 8-K · Filed: Aug 16, 2024 · CIK: 1069394
Sentiment: mixed
Topics: acquisition, m&a, chemical-industry
Related Tickers: FSI
TL;DR
FLEX buying Clean Chemistry for $12.5M - big water treatment play!
AI Summary
Flexible Solutions International Inc. announced on August 14, 2024, that it has entered into a definitive agreement to acquire all of the outstanding shares of Clean Chemistry Inc. for an aggregate purchase price of approximately $12.5 million. The transaction is expected to close in the fourth quarter of 2024, subject to customary closing conditions.
Why It Matters
This acquisition could significantly expand Flexible Solutions' product offerings and market reach in the water treatment sector.
Risk Assessment
Risk Level: medium — Acquisitions carry inherent risks, including integration challenges and potential overpayment, which could impact financial performance.
Key Numbers
- $12.5M — Acquisition Price (Total cost for acquiring Clean Chemistry Inc.)
Key Players & Entities
- Flexible Solutions International Inc. (company) — Acquiring company
- Clean Chemistry Inc. (company) — Acquired company
- $12.5 million (dollar_amount) — Aggregate purchase price
- August 14, 2024 (date) — Date of definitive agreement
- fourth quarter of 2024 (date) — Expected closing period
FAQ
What is the primary business of Clean Chemistry Inc.?
The filing does not explicitly state the primary business of Clean Chemistry Inc., but the context of the acquisition by Flexible Solutions International Inc. suggests it is related to water treatment or similar chemical applications.
What is the expected closing date for the acquisition?
The acquisition is expected to close in the fourth quarter of 2024.
What is the total purchase price for Clean Chemistry Inc.?
The aggregate purchase price for all outstanding shares of Clean Chemistry Inc. is approximately $12.5 million.
What conditions must be met for the acquisition to close?
The transaction is subject to customary closing conditions.
When was the definitive agreement signed?
The definitive agreement was entered into on August 14, 2024.
Filing Stats: 441 words · 2 min read · ~1 pages · Grade level 11.4 · Accepted 2024-08-16 13:14:52
Filing Documents
- form8-k.htm (8-K) — 38KB
- ex99-1.htm (EX-99.1) — 32KB
- ex99-2.htm (EX-99.2) — 29KB
- ex99-1_001.jpg (GRAPHIC) — 12KB
- 0001493152-24-032777.txt ( ) — 299KB
- fsi-20240814.xsd (EX-101.SCH) — 3KB
- fsi-20240814_lab.xml (EX-101.LAB) — 33KB
- fsi-20240814_pre.xml (EX-101.PRE) — 22KB
- form8-k_htm.xml (XML) — 4KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: August 15, 2024 FLEXIBLE SOLUTIONS INTERNATIONAL INC. By: /s/ Daniel B. O'Brien Daniel B. O'Brien, President and Chief Executive Officer 3