Chase Corporation (AMEX:CCF) entered into an agreement to acquire Stewart Superabsorbents (SSA), LLC from The Stewart Group, Explortec, Inc. and Zappa-Tec, LLC for $71.4 million on December 29, 2017. The purchase price of $71.4 million is net of cash acquired and subject to any working capital adjustments and excluding acquisition-related costs. The amount $10.7 million placed into an escrow account to satisfy any negative working capital adjustments and certain potential indemnification obligations of Stewart Group, Explortec and Zappa-Tec, LLC which will be released in tranches as like 20% after six month anniversary of the Closing Date, 30% after twelve month anniversary and remaining after 18 month anniversary. The transaction was funded from a combination of $65 million draw on Chase’s existing revolving credit facility and available cash on hand. Chase Corporation will continue to manufacture and market under the Zappa Stewart brands and locations, with plans to integrate Zappa Stewart into its ERP platform in the coming months. Stewart Superabsorbents had revenue in excess of $24 million in 2017. Chase expects the acquisition to be immediately accretive to its earnings. H. Vaughn Ramsey of Tuggle Duggins P.A. acted as legal advisor to The Stewart Group and Brian T. Moore of Nelson Mullins Riley & Scarborough LLP acted as legal advisor to Chase Corporation. Chase Corporation (AMEX:CCF) completed the acquisition of Stewart Superabsorbents (SSA), LLC from The Stewart Group, Explortec, Inc. and Zappa-Tec, LLC on December 31, 2017.