ACCO Brands Corporation (NYSE: ACCO) has announced a definitive agreement to acquire Trust, a European provider of computer and gaming accessories, from the investment firm Egeria.
Trust, which generates around $100 million in annual revenue, is anticipated to be modestly accretive to ACCO Brands' adjusted earnings per share within the first year following the acquisition.
The deal is expected to bring cost synergies of $5 to $8 million within 18 months of closing.
ACCO Brands plans to finance the acquisition through its revolving credit facility, ensuring minimal impact on its pro forma leverage.
The transaction is projected to be finalized by late third quarter or early fourth quarter.
“Building on the strategic pivot to an enhanced focus on faster-growing categories and the recent acquisition of EPOS, Trust adds a well-established brand and an impressive peripherals lineup that complements Kensington, PowerA and EPOS, deepening our presence in some of the largest and fastest-growing categories in technology peripherals,” said Tom Tedford, ACCO Brands President and CEO.