Simpson Thacher is representing NN, Inc. (“NN”) (NASDAQ: NNBR) in connection with its definitive agreement to sell its Life Sciences business to affiliates of American Securities LLC. Under the terms of the transaction, the Life Sciences business will be purchased for $825 million, comprised of $755 million (subject to customary adjustments) in cash payable at closing of the transaction and an additional $70 million earnout payable in cash based on the 2022 performance of the Life Sciences business. The transaction is expected to be completed in the fourth quarter of 2020, subject to customary closing conditions.
NN, a diversified industrial company, combines advanced engineering and production capabilities with in-depth materials science expertise to design and manufacture high-precision components and assemblies for a variety of markets on a global basis. Headquartered in Charlotte, North Carolina, NN has 48 facilities in North America, Europe, South America and China.
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