Perimeter Solutions Acquires MMT for $685 Million to Strengthen Medical Device Market Position
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 10 2025
0mins
Should l Buy PRM?
Source: Newsfilter
- Acquisition Announcement: Perimeter Solutions has entered into a definitive agreement to acquire Medical Manufacturing Technologies for approximately $685 million in cash, which is expected to enhance its competitive position in the growing medical device market, particularly in the aftermarket sector.
- Financial Projections: MMT is anticipated to generate about $140 million in revenue and $50 million in Adjusted EBITDA in 2025, which will further bolster Perimeter's profitability and cash flow.
- Strategic Fit: Perimeter's CEO Haitham Khouri stated that MMT's business model aligns closely with the company's operational strategy, especially in providing highly engineered proprietary parts and consumables that ensure zero-defect workflows for customers.
- Financing Structure: The acquisition will be funded through $500 million of new secured debt financing and $185 million in cash reserves, with an expected post-acquisition net leverage ratio of 2.7 times, indicating strong cash generation capabilities.
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Analyst Views on PRM
Wall Street analysts forecast PRM stock price to rise
2 Analyst Rating
1 Buy
1 Hold
0 Sell
Moderate Buy
Current: 25.970
Low
31.00
Averages
33.00
High
35.00
Current: 25.970
Low
31.00
Averages
33.00
High
35.00
About PRM
Perimeter Solutions, Inc. is a global solutions provider for the fire safety and specialty products industries. Its Fire Safety segment is a formulator and manufacturer of fire management products that help its customers combat various types of fires, including wildland, structural, flammable liquids and other types of fires. Its specialized equipment includes air base retardant storage, mixing and delivery equipment; mobile retardant bases; retardant ground application units; mobile foam equipment, and equipment that it custom designs and manufactures to meet specific customer needs. The Specialty Products segment includes operations that develop, produce and market products for non-fire safety markets. It also includes Phosphorus Derivatives, Inc., which produces Phosphorus Pentasulfide (P2S) based lubricant additives. The Company also acquired Medical Manufacturing Technologies LLC, which provides engineered machinery and associated aftermarket consumables, parts, and services.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Investment Philosophy: Harvest's core investment philosophy focuses on building and preserving wealth through the long-term ownership of high-quality businesses, a strategy that is well-represented across its diverse range of ETF offerings, further solidifying its competitive edge in the market.
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See More
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- Stake Reduction: East Coast Asset Management reduced its stake in Perimeter Solutions by 497,847 shares during Q3, translating to an estimated $6.4 million decrease, indicating a risk management strategy in response to market volatility.
- Holding Overview: Post-reduction, the remaining stake in Perimeter Solutions totals nearly 1.6 million shares valued at $35.24 million, representing 11.04% of the fund's reportable $319.18 million U.S. equity assets, maintaining its position as the second-largest holding.
- Performance Growth: Perimeter Solutions reported a 9% year-over-year revenue increase to $315.4 million in Q3, with adjusted EBITDA also rising by 9%, highlighting strong performance in its Fire Safety product segment.
- Market Performance: With shares priced at $28.08, Perimeter Solutions has surged 111% over the past year, significantly outperforming the S&P 500's 15% increase, reflecting its competitive edge in the specialty chemicals sector.
See More
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- Holding Overview: As of September 30, the fund still holds nearly 1.6 million shares of Perimeter Solutions valued at $35.24 million, representing 2.96% of its reportable $319.18 million U.S. equity assets.
- Performance Metrics: Perimeter Solutions reported a 9% year-over-year revenue increase to $315.4 million in Q3, with adjusted EBITDA also rising 9% to $186.3 million, driven by strong performance in fire safety products.
- Market Performance: The stock price of Perimeter Solutions surged 111% over the past year, significantly outperforming the S&P 500's 15% increase, indicating its competitive edge and investor confidence in the specialty chemicals sector.
See More
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- Interest Payments: The notes will bear an interest rate of 6.250% per annum, payable semi-annually, ensuring stable returns for investors while providing necessary funding to support the company's acquisition plans.
- Acquisition Strategy: The net proceeds from the offering will be used to pay for the cash consideration of the acquisition of Medical Manufacturing Technologies LLC and related fees, indicating the company's proactive strategy to expand its business and enhance market competitiveness.
- Risk Management: Should the acquisition not be consummated by September 9, 2026, Perimeter Holdings will be obligated to redeem the notes, providing additional security for investors and reducing investment risk.
See More
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- Bond Offering Size: Perimeter Solutions, through its indirect subsidiary Perimeter Holdings, has priced a $550 million offering of 6.250% senior secured notes due 2034, reflecting the company's confidence in future financing.
- Clear Use of Proceeds: The net proceeds from this bond issuance will be used alongside existing cash to pay for the acquisition of Medical Manufacturing Technologies LLC and related expenses, indicating a proactive strategy in business expansion.
- Robust Guarantee Structure: The notes will be fully guaranteed by Perimeter Holdings' parent company and its existing or future restricted subsidiaries, ensuring creditor rights and enhancing investor confidence.
- Transaction Timeline: The bond offering is expected to close on January 2, 2026, and if the acquisition is not completed by September 9, 2026, the company will be obligated to redeem the notes, demonstrating strict control over acquisition timelines.
See More
