Continental Materials acquires In-O-Vate Technologies' dryer and HVAC venting business

Continental Materials Corporation, through its wholly owned subsidiary Inovate Acquisition Company, closed the acquisition of substantially all assets of In-O-Vate Technologies, Inc.'s commercial and residential dryer and HVAC venting systems and components business. The deal was originally announced on June 17, 2019, with a total purchase price of approximately $11.4 million.

“Inovate Acquisition Company (“Buyer”), a Delaware corporation and wholly owned subsidiary of Continental Materials Corporation (the “Company”), entered into an Asset Purchase Agreement (the “Purchase Agreement”) by and among Buyer, an individual representative of Buyer, In-O-Vate Technologies, Inc., a Florida corporation (“Seller”) and Seller’s stockholders (together with Seller, the “Seller Parties”) to acquire substantially all of the assets of Seller’s commercial and residential dryer and HVAC venting systems and components business. Buyer paid approximately $11.0 million cash at closing plus additional consideration for an expected total purchase price of approximately $11.4 million, subject to customary purchase price adjustments.”

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