AAON, Inc. Announces Acquisition of BasX, LLC

AAON, Inc. entered into a membership interest purchase agreement to acquire all equity ownership interests of BasX, LLC (BasX Solutions) for $100 million in cash and up to $80 million in contingent stock consideration. The deal also includes a separate $22 million real estate acquisition for BasX's principal property.

“On November 18, 2021, AAON, Inc. (the “Company”) entered into a membership interest purchase agreement (the “Purchase Agreement”) with D-velopment, LLC, JVK Holdings, LLC, Randa K. Brooks, Matthew J. Tobolski in his capacity as trustee of the Tobolski Family Trust, Dave Benson, John N. Kucera and Matt Tobolski (collectively, the “Seller Parties”), pursuant to which the Company agreed to purchase (the “BasX Acquisition”), all of the issued and outstanding equity ownership interests of BasX, LLC, an Oregon limited liability company doing business as BasX Solutions (“BasX”), for a purchase price of (i) $100 million payable in cash at the closing of the transaction (subject to customary closing purchase price adjustments), and (ii) up to $80 million in the aggregate of contingent consideration payable in shares of the Company’s common stock”

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