Duff & Phelps Provides a Fairness Opinion to the Board of Directors of NN, Inc. on the Sale of Its Life Sciences Division to American Securities LLC
has entered into an agreement to sell its Life Sciences division to
In August 2020, NN, Inc. (NASDAQ: NNBR), a diversified industrial company, announced a definitive agreement under which NN, Inc.'s Life Sciences division will be purchased by affiliates of American Securities LLC for the purpose of being combined with its portfolio company, MW Industries, a provider of highly engineered springs, specialty fasteners, bellows and other precision components.
The transaction is expected to be completed in the fourth quarter of 2020, subject to customary closing conditions. Following the close of the transaction, the Life Sciences division will combine with MW Industries.
Duff & Phelps served as a financial advisor to the board of directors of NN, Inc.and provided an independent fairness opinion in connection with the transaction.
About NN, Inc.
NN, Inc., a diversified industrial company, combines advanced engineering and production capabilities with in-depth materials science expertise to design and manufacture high-precision components and assemblies for a variety of markets on a global basis. Headquartered in Charlotte, North Carolina, NN has 48 facilities in North America, Europe, South America, and China. Simpson Thacher & Bartlett LLP served as legal counsel to NN, Inc.
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