The Agreement

Boyd Corporation has entered into an agreement to purchase the Asian and European Die-Cut businesses of Brady Corporation (NYSE:BRC), a transaction that more than doubles the size of Boyd’s global business. The acquisition naturally complements Boyd’s current product portfolio and transforms a highly respected brand name into a true global provider with great reach and depth.

Benefits

The acquisition significantly increases the size of Boyd’s business globally and naturally complements Boyd’s current product portfolio. The combined businesses create a level of global seamlessness that provides original equipment manufacturers (OEM) and Electronics Manufacturing Services providers (EMS) with greater access to materials, more proximate design services, manufacturing across continents and enhanced supply chain effectiveness.

The Asian and European Die-Cut Businesses

The Asian operations primarily manufacture high-performance products such as gaskets, meshes, heat dissipation materials, antennae, dampers, filters, and similar products sold into the mobile computing and electronics industries. The European operations primarily manufacture precision components and thermal management products used in the medical, automotive electronics and telecommunications industries.

Closing Terms/Approvals

The sale is subject to various conditions, including approvals under applicable foreign antitrust laws, receipt of other governmental and third party consents and other customary closing conditions. The transaction will close in two phases, with the first closing expected to occur approximately 90 days of its signing, and the second closing expected to occur in the second half of the year.

Boyd Corporation Existing Facility Locations

• Elkhart, Indiana
• Fairburn, Georgia
• Gaffney, South Carolina
• Modesto, California
• Portland, Oregon
• Shenzhen, China

Boyd Corporation Post-Acquisition Facility Locations

• Chon Buri, Thailand
• Elkhart, Indiana
• Fairburn, Georgia
• Gaffney, South Carolina
• Gumi, Korea
• Langfang, China 
• Modesto, California
• Nodinge, Sweden
• Portland, Oregon
• Shenzhen, China
• Syke, Germany
• Taipei, Taiwan
• Wuxi, China