CSW Industrials (CSWI) said Tuesday it has agreed to acquire Aspen Manufacturing for about $313.5 million in cash, subject to post-closing adjustments.

The company said it plans to fund the transaction with a combination of cash on hand and debt under its existing $500 million credit facility. The transaction is expected to close in the company's fiscal Q1.

The acquisition is expected to immediately be accretive to the company's earnings per share and earnings before interest, taxes, depreciation, and amortization.

Texas-based Aspen, which had an estimated revenue of $122.4 million in 2024, is one of the largest independent evaporator coil and air handler manufacturers for the heating, ventilation, air conditioning, and refrigeration industry, CSW said.