Ats To Acquire Biomedical Research & Life Sciences Water Purification Equipment Provider Avidity Science

Sep 22, 2023•almost 2 years ago

Acquiring Company

Aviation Technical Services

Acquired Company

Biomedical Research & Avidity Science

EverettAerospace

Description

ATS Corporation (TSX: ATS) (NYSE: ATS) ("ATS" or the "Company") a leading automation solutions provider, today announced it has entered into a definitive agreement to acquire Avidity Science, LLC ("Avidity"), a growing designer and manufacturer of automated water purification solutions for biomedical and life science applications, for US$195 million (~C$265 million), representing 11.2x Avidity's projected calendar 2023 adjusted EBITDA1,2, or 10.3x Avidity's projected calendar 2023 synergy-adjusted EBITDA1,2. The Company expects US$1.5 million of cost and commercial synergies by year 3, and US$2.6 million of cost and commercial synergies by year 5. The acquisition is subject to customary post-closing adjustments.

Company Information

Company

Aviation Technical Services

Location

Everett, Washington, United States

About

Aviation Technical Services (ATS) provides a broad and growing portfolio of technical services in MRO (maintenance, repair and overhaul), Engineering, Component Repair and Parts Development worldwide. ATS supports both narrow body and wide body aircraft operators in the commercial and government aviation markets. Since its founding in 1970, ATS has received numerous industry awards for its support of turn-key fleet transition and integration, aircraft modifications, aircraft heavy maintenance, design services and component repair of accessories, structures, flight control surfaces, fuel components, complex composites, hydraulics, pneumatics, heat exchangers and electrical components. ATS is headquartered in Everett, Washington. For more information, visit atsmro.com.

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