Horizon Buys APR for $855 Million to Grow in Temporary Power
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Horizon Acquisition Co., which sold shares last year, agreed to purchase APR Energy for $855 million to expand in the market for providing temporary power plants through diesel and gasoline engines.
Horizon will pay $359 million in cash and the rest in new Horizon shares, the company said in a statement in London today. It will have about $275 million of cash left over after the deal, which will be used to accelerate the growth of Jacksonville, Florida-based APR.