Mueller Industries, Inc. (NYSE:MLI) entered into a definitive agreement to acquire Nehring Electrical Works Company from group of sellers for approximately $600 million on April 19, 2024. As part of consideration $575 million paid in cash in immediately available funds and additional $25 million earn out. The Subject to regulatory approval and customary closing conditions and Transaction expected to close during the second quarter of 2024.

The HSR Clearance shall have been received. The Escrow Agreement, duly executed by Buyer. For the twelve months ended December 31, 2023, Nehring?s annual net sales were approximately $400 million.

Serge Benchetrit, Sean Ewen and Jeffrey Daniel of William Blair & Company, L.L.C. acted as financial advisor to Nehring Electrical Works Company. Matt Stevens and Katie Mariani of Winston & Strawn LLP acted as legal advisor to group of sellers. Serge Benchetrit of Willkie advised Mueller Industries, Inc.