Arcline Investment Management has completed its acquisition of AstroNova, Inc. (NASDAQ: ALOT), with affiliates of Arcline acquiring all outstanding common stock of the West Warwick, Rhode Island-based company for $29.00 per share in an all-cash transaction, according to a joint statement from both companies.

AstroNova shareholders are entitled to receive $29.00 in cash for each share of common stock held as of the closing date. Following the transaction, AstroNova will cease trading and will no longer be listed on the Nasdaq.

Shareholders holding physical stock certificates will receive a letter of transmittal with instructions for surrendering their shares in exchange for the merger consideration. Shareholders holding shares in street name will receive payment through their brokerage or similar accounts.

AstroNova provides identification and marking solutions for the aerospace and defense, labeling, and packaging industries. Its Aerospace segment offers airborne printing solutions, avionics, and data acquisition products, while its Product Identification segment delivers marking and identification hardware, software, and consumables.

Arcline Investment Management is a private equity firm with over $30 billion in assets under management.