Atlas Engineered Products has entered into a definitive agreement to purchase all of the issued and outstanding shares of Satellite Truss Ltd. of Merrickville, Ontario, Canada.

Atlas Engineered Products to acquire Satellite Truss

Atlas Engineered Products has entered into a definitive agreement to purchase all of the issued and outstanding shares of Satellite Truss Ltd. of Merrickville, Ontario, Canada, as the company said in the press release received by Lesprom Network.

To acquire Satellite, Atlas has agreed to pay $1.2 million in cash on closing, subject to adjustment based on Satellite having an expected working capital surplus of $300,000 on closing.

Satellite’s general manager will agree to stay on with the Company for a period of 3 years after closing. Closing of the Satellite acquisition remains subject to customary closing conditions, including the satisfactory completion of Atlas’ due diligence investigations.

Atlas Engineered Products is a leading supplier of trusses and engineered wood products.