MTS Systems (MTSC) Announces Acquisition of Instrument and Calibration Sweden AB
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MTS Systems Purchases Instrument And Calibration Sweden AB
July 9, 2015 4:05 PM EDTEDEN PRAIRIE, Minn., July 9, 2015 /PRNewswire/ -- MTS Systems Corporation (NASDAQ: MTSC), a leading global supplier of high-performance test systems and position sensors, today announced that it has acquired Instrument and Calibration Sweden AB (ICS), a supplier of testing equipment and calibration services located in Sweden. MTS purchased ICS for approximately $0.7 million, representing an EBITDA multiple of 6-7x. The acquisition closed on June 29, 2015. ICS' revenue is expected to be between $1 and $2 million over the next twelve months. ... More
