Auxiliary equipment maker Nordson Corp. plans to buy the NDC Technologies business from Spectris plc in a deal valued at $180 million.
According to a news release, Westlake, Ohio-based precision technologies company Nordson has signed a definitive agreement to buy the Dayton, Ohio-based NDC business in an all-cash transaction. The acquisition of the precision measurement solutions provider will add end markets and technologies to Nordson's test and inspection platform. The release noted that NDC makes about $90 million in annual revenue and $15 million in earnings before interest, taxes, deductions and amortization.
"We are excited to welcome NDC Technologies' nearly 300 employees into the Nordson family. They will bring exciting new capabilities and expertise to our test and inspection platform," Jeffrey Pembroke, executive vice president of Nordson Advanced Technology Solutions, said in the release.
"NDC's customer-centric business model, differentiated technology and end markets make it a very Nordson-like business. This acquisition is further progress on our Nordson Ascend Strategy to achieve top-tier growth with leading margins and returns. We look forward to applying the NBS Next growth framework and investing in NDC's greatest opportunities for profitable growth," he said.
NDC's customers work in film converting, cable and wire production, tubing and other plastics processing.