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Two Blokes Jul 14 -
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Strong strategic fit that increases presence in multiple high-growth adjacencies and offers immediate commercial impact from Waters' proven execution model Doubles Waters' total addressable market to approximately $40 billion, with 5-7% annual growth Creates a combined company with pro forma expected 2025 sales of approximately $6.5 billion and adjusted EBITDA of approximately $2.0 billion Increases annual recurring revenue to over 70% with over 80% of revenue coming from iconic market-leading brands Anticipate approximately $345 million in annualized EBITDA synergies by 2030, including $200 million of cost synergies by year three, and $290 million of revenue synergies by year five Delivers an industry-leading financial outlook with mid-to-high single-digit revenue growth, approximately 500 basis points of adjusted operating margin expansion, and mid-teens annualized adjusted EPS growth expected over five years Transaction expected to be accretive to adjusted EPS in the first year Companies to host joint conference call at 8:00 a.m. ET today MILFORD, Mass.
