Astronics Corporation, a leading provider of advanced technologies for the global aerospace and defense industries, announced Jan. 21 that it has entered into a definitive agreement to acquire substantially all of the assets and liabilities of EADS North America’s Test and Services division for approximately $53 million in cash plus a net working capital adjustment.
The agreement is expected to close in February, subject to normal closing requirements including Hart-Scott-Rodino approval. Upon closing, EADS T&S will be reported in Astronics’ Test Systems segment.
EADS T&S, located in Irvine, Calif., is a leading provider of highly engineered automatic test systems, subsystems and instruments for the semi-conductor, consumer electronics, commercial aerospace and defense industries. EADS T&S provides fully customized testing systems and support services for these markets. It also designs and manufactures test equipment under the well-respected test instrument brands known as Racal and Talon.
EADS T&S had 2013 sales of approximately $70 million. Sales for 2014 for the business are expected to be approximately $100 million., “EADS T&S has developed a strong presence in a diversified set of industries, which provides a broad range of market opportunities for growth,î said Peter J. Gudnermann, Astronics CEO. ìWe also believe that the business possesses a skill set which is highly complementary to our own, and together we will field a stronger team than either entity would do on their own.”
EADS T&S was founded in 1950 as Racal Electronic Group and currently has about 210 employees.