EnPro Industries, Inc. (NPO - Free Report) , yesterday, announced that it has acquired a privately held company, The Aseptic Group. Financial terms of the transaction have been kept under wraps.
Before we proceed further with the buyout details, it’s worth mentioning that Limonest, France-based The Aseptic Group specializes in designing, manufacturing and distributing products related to aseptic fluid transfer. These products are mainly used in biopharmaceutical and pharmaceutical industries.
Details of the Buyout
As noted, EnPro Industries will integrate the acquired Aseptic Group — comprising Aseptic Services SARL and Aseptic Process Equipment SAS — to its Garlock Family of Companies. Garlock is mainly engaged in supplying fluid handling and sealing products to customers in the process industries.
EnPro Industries anticipates that the Aseptic buyout will add vigor to Garlock’s operations by strengthening its product offerings and manufacturing capabilities, and expanding in biopharmaceutical and pharmaceutical industries.
Zacks Rank & Other Key Picks
With a market capitalization of $1.3 billion, EnPro Industries currently carries a Zacks Rank #4 (Sell). In the past three months, the company’s share price has declined 8% versus the industry’s growth of 2.9%.
Further, earnings estimates for the company have been revised downward in the past 60 days. Currently, the Zacks Consensus Estimate for EnPro Industries is pegged at $4.19 for 2019 and $4.88 for 2020, indicating decline of 2.3% and 1% from the respective 60-day-ago figures.
EnPro Industries Price and Consensus