Astronics sharpens focus on avionics test and measurement by buying EADS North America Test and Services
EAST AURORA, N.Y., 26 Jan. 2014. Executives of Astronics Corp. in East Aurora, N.Y., are boosting their company's expertise in automatic test and measurement with their pending acquisition of the EADS North America Test and Services division (EADS T&S) in Irvine, Calif.
Astronics has agreed to acquire substantially all of the assets and liabilities of EADS T&S for about $53 million in cash plus a net working capital adjustment. The agreement is expected to close in February.
EADS T&S provides engineered automatic test systems (ATS), subsystems and test instruments for the commercial aerospace, defense, semiconductor, and consumer electronics industries. On closing EADS T&S will be reported to the Astronics Test Systems segment.
EADS T&S provides customized testing systems and support services, and designs and manufactures test equipment under the Racal and Talon brands. EADS T&S had 2013 sales of about $70 million. Sales for 2014 for the business are expected to be about $100 million.
EADS T&S has "a skill set which is complementary to our own, and together we will field a stronger team than either entity would do on their own," says Astronics CEO Peter Gundermann.
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