ACON Investments Affiliate To Sell SAE Towers To KEC International For $95M

An affiliate of Washington, D.C.-based ACON Investments LLC signed a definitive agreement to sell SAE Towers Holdings LLC to KEC International Ltd. of India for $95 million excluding working capital adjustments on a debt-free, cash free basis. The sale of SAE Towers to KEC will yield proceeds representing more than 3.6x ACON's investment.SAE Towers is a Houston, Texas-based manufacturer of transmission towers. SAE Towers' management team will remain with the business.

North AmericaUSBriefs