Tentative Acquisition: Morehouse Industries Inc. said Monday...
From Times Wire Services
Tentative Acquisition: Morehouse Industries Inc. said Monday that it has agreed in principle to acquire GST Industries Inc. of Santa Ana for a combination of cash, notes and other financial considerations. Under the deal, Morehouse, a Fullerton company that manufactures mixing, dispersing and milling machines, would pay GST $2.3 million in cash, $200,000 in notes and 75% of GST’s future earnings exceeding $500,000 for five years. Morehouse President Jim Swartwout said the acquisition is a strategic move since both companies manufacture mechanical and hydraulic products for the specialty chemicals industry.
