Mosaic Capital announces plans to acquire Mackow Industries for $29.5M
Mosaic has agreed to pay $29.5 million for the stake, to be funded through cash and vendor take-back financing. Mackow’s management team will retain a 20 per cent interest. In addition, there is a two-year vendor earn out provision to be paid to the vendors if the business meets specified targets.
“We are excited about our partnership with Mackow,” says Harold Kunik, President of Mosaic. “The team at Mackow has done an excellent job of positioning and growing the business. This acquisition brings further industry and geographic diversity to Mosaic’s portfolio as well as direct participation in the compelling North American transit bus and motor coach industry.”