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, develops, manufactures, and distributes a range of specialty printers, and data acquisition and analysis systems, including both hardware and software, which incorporate advanced technologies to 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 includes specialty printing systems and related supplies sold under the QuickLabel, TrojanLabel and GetLabels brand names. The T&M segment includes its line of aerospace printers, ethernet networking products, and test and measurement data acquisition systems sold under the AstroNova brand name. The Company offers its hardware and software products to various markets, including aerospace, apparel, automotive, avionics, chemicals, computer peripherals, communications, distribution, food and beverage, general manufacturing, packaging, and transportation.
ASTRONOVA, INC. 