EnPro Industries To Buy Taiwan's LeanTeq - Quick Facts

(RTTNews) - EnPro Industries, Inc. (NPO), a manufacturer of highly engineered industrial products, announced Monday that it has entered into an agreement to acquire Taiwan-based privately-held LeanTeq Co., Ltd.

The transaction is expected to close in the fourth quarter of 2019, subject to customary closing conditions, including regulatory approvals.

EnPro recently bought The Aseptic Group. The combined purchase price of these two transactions is approximately $345 million. The initial annual impact of the deals is expected to include pro forma sales of approximately $55 million and an increase in Sealing Products segment EBITDA margin of approximately 175-200 bps.

LeanTeq, founded in 2011, has two locations in Taiwan and in the United States, and approximately 260 employees.

LeanTeq is a provider of refurbishment services for critical components and assemblies used in state-of-the-art semiconductor equipment, used to produce microchips for smartphones, autonomous vehicles, high-speed wireless connectivity (5G), artificial intelligence, and other leading-edge applications.

Upon the deal closure, LeanTeq will be part of EnPro's Technetics Group within the Sealing Products segment. Technetics Group produces custom, highly engineered components for demanding applications in the semiconductor, aerospace and nuclear markets.