AstroNova, Inc. acquired Astro Machine Corporation for $17.1 million.
August 08, 2022
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AstroNova, Inc. (NasdaqGM:ALOT) acquired Astro Machine Corporation for $17.1 million on August 4, 2022. The acquisition includes Astro Machine's 34,000-square-foot engineering and manufacturing plant in Elk Grove Village, Illinois. The transaction was funded with borrowings from an amended version of the Company's existing senior bank debt facilities. 40 employees added as a result of the Astro Machine acquisition. The acquisition is expected to be accretive to earnings in the current fiscal year. The transaction is conditional upon the Seller having received all consents, authorizations, orders and approvals from the Governmental Authorities. Foley Hoag LLP acted as legal advisor to AstroNova. Michael Best & Friedrich LLP acted as legal advisor to Astro Machine Corporation.
AstroNova, Inc. (NasdaqGM:ALOT) completed the acquisition of Astro Machine Corporation on August 4, 2022.
AstroNova, Inc. designs, manufactures, distributes, and services a range of products that acquire, store, analyze, and present data in multiple formats. The Company operates through two segments: Product Identification (PI) and Test & Measurement (T&M). The PI segment provides an array of digital, end-to-end product marking and identification solutions, including hardware, software, and supplies for original equipment manufacturers (OEMs), commercial printers, and brand owners. The T&M segment provides products designed for airborne printing solutions, avionics, and data acquisition. Its aerospace products include flight deck printing solutions, networking hardware, and specialized aerospace-grade supplies. Its data acquisition systems are used in research and development, flight testing, missile and rocket telemetry production monitoring, power, and maintenance applications. The Company also offers advanced digital solutions for textiles, packaging, and labeling.