Minneapolis, Minn. (October 19, 2012) – Measurement Specialties, Inc. (NASDAQ: MEAS) (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.
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.
The Sellers were represented by Charlie Berquist of Best & Flanagan.