Measurement Specialties, Inc. (the Company), a global designer and manufacturer of sensors and sensor-based systems, announced the acquisition of the assets of Resistance Temperature Detector Company Inc. (RTD) and its parent company Cambridge Technologies Inc. (collectively with RTD, the Sellers), a designer and manufacturer of temperature sensors and probes. The transaction closed October 1, 2012.
Frank Guidone, Company CEO comments, "RTD is a great company, and a terrific add to our temperature portfolio. RTD has tremendous presence in the motor/generator market, and services all of the major OEMs in that space. They also produce custom temperature sensors for the factory automation, medical and general industrial markets. We believe the addition of their blue chip customer base, along with our global footprint and low cost manufacturing capability, is a strong combination with both operational and strategic synergies."
The Company paid $17.3 million to the Sellers in cash at closing. Additionally, RTD can earn up to an additional $1.5 million if certain sales performance goals are achieved. The Company expects the transaction to add approximately $15 million in annual net sales and approximately $3.0 million in annual EBITDA.
Jim Sulciner, RTD President and CEO comments, "RTD Company is thrilled to be a part of MEAS as it will expand our worldwide capabilities in manufacturing, sourcing and sales."
