Nordson Corp. said it's buying measurement device company NDC Technologies of Dayton from Spectris plc for $180 million in cash.
Westlake, Ohio-based Nordson said the acquisition will expand its test and inspection platform into new end markets and adjacent technologies. According to Nordson, NDC Technologies generates about $90 million in annual revenue. Its technology portfolio includes in-line measurement sensors, gauges and analyzers using near-infrared, laser, X-ray, optical and nucleonic technologies, as well as proprietary algorithms and software.
NDC Technologies "will bring exciting new capabilities and expertise to our test and inspection platform," said Jeffrey Pembroke, executive vice president at Nordson Advanced Technology Solutions, in a statement, adding that NDC Technologies employs 300 people.
Nordson makes equipment that dispenses adhesives, sealants and coatings. The company said it will release its third-quarter fiscal year 2021 earnings on Monday, August 30.
In the second quarter, Nordson reported sales increased 11% to a record of $590 million, up from $529 million a year earlier. Second-quarter earnings per share rose 34% to $2.12 per diluted share, an increase over the prior year diluted earnings per share of $1.58.
“Based on our backlog and order trends, we expect this strength to continue and are raising our sales and earnings guidance for the full year fiscal 2021," said Sundaram Nagarajan, Nordson CEO and president, in a May 24 statement.
