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ATS Acquires Biopharma Processing, Laboratory Equipment and Labware Provider SP Industries
ATS Acquires Biopharma Processing, Laboratory Equipment and Labware Provider SP Industrie...
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[{"type":"text","content":"\n \n \n \n ATS Acquires Biopharma Processing, Laboratory Equipment and Labware Provider SP Industries\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen2{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; VERTICAL-ALIGN: TOP; TEXT-ALIGN: LEFT; BORDER-TOP:black 0pt initial; BORDER-RIGHT:black 0pt initial; BORDER-BOTTOM:black 0pt initial; BORDER-LEFT:black 0pt initial\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE; BORDER-TOP:initial initial black; BORDER-RIGHT:initial initial black; BORDER-BOTTOM:initial initial black; BORDER-LEFT:initial initial black\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n CAMBRIDGE, ON\n \n ,\n \n Nov. 7, 2021\n \n /CNW/ - ATS Automation Tooling Systems Inc. (\n \n TSX: ATA\n \n ) (\"ATS\" or the \"Company\"), an industry-leading automation solutions provider, today announced it has entered into a definitive agreement to acquire SP Industries, Inc. (\"SP\"), a designer and manufacturer of high-grade biopharma processing equipment, life sciences equipment, and lab apparatus products for\n \n US$445 million\n \n (\n \n ~C$550 million\n \n ), subject to customary post-closing adjustments, representing 15.3x SP's trailing 12 month adjusted EBITDA or 11.9x post synergies\n \n (1)\n \n .\n \n \n \n \n \n \n \n \n \n \"SP greatly expands our capabilities and offerings through the addition of its aseptic and non-aseptic lyophilization portfolio and its fill-finish solutions and enhances our position in the pharmaceutical drug development and production end-markets,\" said\n \n Andrew Hider\n \n , CEO of ATS. \"SP participates in highly attractive segments where growth is driven by a robust pharma drug pipeline, rising usage of biologics and increasing lyophilization of products. Notably, the combination of ATS and SP will allow us to better support the needs of our customers throughout the lifecycle of pharmaceutical development and production, as well as in diagnostics, broader life sciences and applied sciences applications. With its proven track record and tal...