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AI brief of an SEC Form 8-K · CSW Industrials (CSW)

CSW Industrials to acquire Aspen Manufacturing for $313.5 million in cash

Neutral Impact 4 of 5 m&a Written later

CSW Industrials agreed on March 17, 2025, to buy Aspen Manufacturing, a maker of evaporator coils and air handlers for the HVAC/R market, for a base price of $313.5 million in cash, subject to customary adjustments. The filing says the deal will be funded with cash on hand and debt under the company's existing $500 million credit facility, and closing is expected in the first quarter of CSWI's 2026 fiscal year, subject to closing conditions including the Hart-Scott-Rodino waiting period.

Key points

  • Base purchase price of $313.5 million in cash, with $8 million placed in escrow to secure post-closing adjustments and indemnities
  • Company cites an purchase price of about 11x Aspen's estimated 2024 adjusted EBITDA of $28.5 million
  • Aspen's estimated 2024 revenues were $122.4 million; the merger agreement can be terminated if closing has not occurred by September 17, 2025
  • Closing is not subject to a financing condition; the company expects the deal to be immediately accretive to EPS and EBITDA

The filing

CompanyCSW Industrials (CSW)
Form8-K, current report
Filed with the SECMar 18, 2025, 5:07 PM ET
Accession number0001193125-25-056730

Items reported: 1.01 Material Definitive Agreement7.01 Regulation FD Disclosure

Read the filing on SEC.gov ↗

Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:00 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on March 18, 2025.

Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.