Myers Industries recently completed an acquisition of Signature Systems, which was announced Jan. 2. The cash transaction of $350 million was funded through an amendment and restatement of Myers’ existing loan agreement, which maintained a $250 million revolving credit facility and added a new $400 million, five-year senior secured term loan A. The term loan A was increased by $50 million from the amount initially contemplated, Myers said. The financial results of Signature Systems are expected to be included within Myers’ material handling segment.

“We are excited to welcome the Signature team to Myers with the closing of this transaction,” Mike McGaugh, chief executive officer of Myers Industries said. “This acquisition strengthens our growing portfolio of market-leading brands, enhances our profitability profile and demonstrates Myers’ capability as a platform for acquisitive growth. With a strong runway of future growth, due to increasing infrastructure investments over the next decade, we believe Signature’s sustainable competitive advantage, strong earnings growth, and free cashflow profile will help us accelerate EPS growth and achieve our long-term strategic objectives.”