The latest announcement is out from Lakeland Industries (LAKE).
Lakeland Industries has made a strategic expansion with the acquisition of LHD Group’s fire and rescue business, a deal valued at approximately $16.7 million, expected to close in May. This move, financed through an amended credit facility with Bank of America, enhances Lakeland’s product portfolio in the safety sector and bolsters its position as a leader in firefighter gear and services. The credit facility’s terms have been revised, including an extension to 2029, an increase in available funds, and adjustments to interest rates and debt covenants to support the company’s growth and acquisition strategy.
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