A.O. Smith to fund $418M purchase via cash and revolving credit facility

A.O. Smith said it expects to fund the $418 million Lochinvar purchase price with a combination of cash and debt borrowed under its $425 million revolving credit facility, at an adjusted 7.5x EBITDA multiple.

“Management expects to fund the $418 million purchase price with a combination of cash and debt, which it expects to borrow under its $425 million revolving credit facility.”

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