EIF Holdings to Acquire JL Manta

EIF Holdings said Monday it has signed an agreement to acquire JL Manta, an industrial maintenance and coating services company, for $8.5 million in cash and notes.

EIF said the transaction is scheduled to close by Oct. 31.

EIF said JL Manta generates more than $40 million a year in revenue. EIF Holdings provides maintenance services for clients in the industrial, low-level nuclear and environmental sectors.