Titan International, Inc. (TWI) has bought Carlstar Group LLC. for approximately $296 million in a cash and stock transaction, which closed on 29 February 2024. The transaction price represents a multiple of approximately 4x Carlstar's full-year 2023 pre-tax profits (adjusted EBITDA) of $73 million. Carlstar reported revenues of around $615 million in 2023.
Form 10-K TITAN INTERNATIONAL INC For: Dec 31
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Titan Acquires Carlstar in Cash, Stock Deal
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Titan International acquires Carlstar Group in $296M cash, stock deal
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