Exchange Income Corporation Announces The Acquisition Of Dryair Manufacturing Corp.
10/05/23, 6:49 PM
Location
winnipeg
Industry
aerospace
manufacturing
manufacturing
Exchange Income Corporation (TSX: EIF) (“EIC” or the “Corporation”) a diversified, acquisition-oriented company focused on opportunities in the aviation, aerospace and manufacturing segments, announced today it has acquired DryAir Manufacturing Corp. (“DryAir”), for a purchase price of approximately $60 million. The purchase price was funded by the issuance of $15 million of EIC common shares, equivalent to 25% of the purchase price, to the vendors and cash in the amount of $45 million from the Corporation’s credit facility.
Company Info
Location
Winnipeg, Manitoba, Canada
Company info
Exchange Income Corporation is a diversified, acquisition-oriented corporation focused on opportunities in two sectors: aviation services and equipment, and manufacturing. The business plan of the Company is to invest in profitable, well-established companies with strong cash flows operating in niche markets.