ACCO Brands Corporation announced an agreement to acquire Trust, a European provider of computer and gaming accessories, from pan-European investment firm Egeria. The financial details of the deal were not disclosed. The company expects the acquisition to shift its product and brand portfolio toward higher-growth technology peripherals, and projects cost synergies of approximately $5 to $8 million within 18 months after closing. The deal will be funded through borrowings under ACCO Brands' revolving credit facility, with limited impact to pro forma leverage, and is scheduled to close in late third quarter or early fourth quarter.
Acco Brands CorporationAcquiring Trust shifts portfolio to higher-growth tech peripherals with cost synergies.
Trust is being acquired, likely benefiting from the transaction.
