Aetrium Buys KBS Building Systems

(RTTNews) - Aetrium Inc. (ATRM) said Thursday that it has acquired substantially all of the assets of KBS Building Systems, Inc. and certain of its affiliated entities.

KBS, which is based in South Paris, Maine, manufactures, sells, and distributes modular housing units for both residential and commercial use.

Consideration for the acquisition included $5 million in cash, a $5.5 million six-month promissory note made by a wholly-owned subsidiary of Aetrium, the assumption and payoff of about $1.4 million in debt, and the assumption of certain other liabilities related to the purchased assets.

The acquisition was financed by $6.5 million in loans from Lone Star Value Investors, LP, an investment fund managed by Aetrium Chairman. Jeffre Eberwein.