Measurement Specialties Acquires Sensotherm
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Measurement Specialties, Inc.
1000 Lucas Way
Hampton, VA, 23666
Press release date: September 3, 2013
HAMPTON, Va., (GLOBE NEWSWIRE) -- Measurement Specialties, Inc. (Nasdaq:MEAS), (the "Company"), a global designer and
manufacturer of sensors and sensor-based systems, announced today the completion of the acquisition of the capital stock of Sensotherm
Temperatursensorik GmbH, a German limited liability company, and Secon Kft., a Hungarian limited liability company (together, "Sensotherm"), a leader in the design and manufacture of platinum (Pt) thin film RTD temperature sensors for EURO5.2 million or approximately $7.0 million.
The acquisition closed August 30th.
Frank Guidone, Company CEO, commented, "Sensotherm, while small, is quite strategic for our temperature group. Thin film Pt temperature
sensors are the only meaningful temperature sensing technology that we do not currently control in-house; this acquisition fills that gap. The
integration of the Sensotherm operations should generate ~$0.5 million in incremental annual synergy benefit for the Company. Once completed, we expect the transaction to contribute over $1.7 million in annual EBITDA and approximately $4.4 million in annual sales."
Dr. Heinrich Zitzmann, co-founder and CEO of Sensotherm, commented "Given MEAS' global reach, capabilities and synergies, we expect the
combination will allow us to dramatically accelerate growth and drive operational efficiencies."
About Measurement Specialties:
Measurement Specialties, Inc. (MEAS) designs and manufactures sensors and sensor-based systems to measure precise ranges of physical characteristics such as pressure, temperature, position, force, vibration, humidity and photo optics. MEAS uses multiple advanced technologies -- piezo-resistive silicon sensors, application-specific integrated circuits, micro-electromechanical systems ("MEMS"), piezoelectric polymers, foil strain gauges, force balance systems, fluid capacitive devices, linear and rotational variable differential transformers, electromagnetic displacement sensors, hygroscopic capacitive sensors, ultrasonic sensors, optical sensors, negative thermal coefficient ("NTC") ceramic sensors, mechanical resonators and submersible hydrostatic level sensors -- to engineer sensors that operate precisely and cost effectively.
The Sensotherm Business is one of the largest producers of platinum temperature sensors in thin film technology operating out of Nurenberg,
Germany and Hungary.
CONTACT: Company Contact: Mark Thomson, CFO, (757) 766-4224