Nordson Corporation (NasdaqGS:NDSN) signed an agreement to acquire NDC Technologies Inc. from Spectris plc (LSE:SXS) for $180 million on August 23, 2021. The all-cash transaction, subject to customary post-closing adjustments, is valued at $180 million. The transaction will be funded using cash from operations and proceeds from borrowings.

NDC Technologies, headquartered in Dayton, Ohio, generates approximately $90 million in annual revenue and $15 million in EBITDA. NDC Technologies will add nearly 300 workers to the company's employment base. The transaction is subject to customary completion conditions and regulatory approvals, with completion expected to take place in the fourth quarter of 2021.

As of September 8, 2021, The NDC acquisition is expected to close in the first quarter of 2022. Evan S. Yellin, Pim Kraaijeveld and Matt Nicastro of EC Mergers & Acquisitions acted as financial advisors for Spectris. Sven Schweneke, Luise Paulsen and Sonja Popp of Eversheds Sutherland (Germany) LLP and Lance Phillips, Evan Johns and Alistair McMasters of Eversheds Sutherland (US) LLP acted as legal advisors to Nordson Corporation.

Eversheds Sutherland China, Eversheds Sutherland India, Eversheds Sutherland, Eversheds Sutherland Associazione Professionale and Eversheds Sutherland (France) LLP also participated in the transaction to legally advise Nordson Corporation. Rabindra Jhunjhunwala, Roshnek Dhalla and Anshul Prakash of Khaitan & Co. acted as legal advisors to Nordson Corporation (NasdaqGS:NDSN).