Industrial company NN entered a definitive agreement to acquire PMG Intermediate Holding Corporation.
Here are five insights.
1. PMG Intermediate Holding Corporation is the parent company of Paragon Medical, a medical device manufacturer in the orthopedic, case and tray, implant and instrument markets.
2. NN plans to purchase the company for $375 million in cash.
3. NN President and CEO Richard Holder commented, "Paragon strengthens our technical abilities, expands our product and finished device offerings and adds key talent across our organization that will help us continue to drive growth in our end markets."
4. NN intertwines advanced engineering with materials science expertise to create high-precision components and assemblies for various markets.
5. The acquisition will likely close in the second quarter of 2018.