AstroNova Acquires Astro Machine, a Leader in Printing Technology for Labeling and Mailing Applications

$17.1 Million Transaction Adds U.S.-based Engineering and Manufacturing Capacity

AstroNova, Inc. , a global leader in data visualization technologies, announced the acquisition of Astro Machine, for an aggregate purchase price of $17.1 million in cash, from its founding family.

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Astro Machine is a leading designer and manufacturer of professional color and monochrome inkjet printers as well as a wide range of media handling equipment for labeling and mailing applications. The acquisition includes Astro Machine’as 34,000-square-foot engineering and manufacturing plant in Elk Grove Village, Illinois.

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“Astro Machine meets all the criteria of our acquisition strategy and adds an exciting adjacency to our Product Identification portfolio that we expect will further enhance our market leadership position,” said Greg Woods, AstroNova President and CEO. “Astro Machine’s products and technologies are a great fit. We believe that this transaction brings synergistic product design and material handling expertise, expands our U.S.-based manufacturing capabilities, and adds complementary channels to market that will enhance our ability to scale the combined business and capitalize on cross-selling opportunities. George Selak, Astro Machine’s President, will continue to lead the business, and we are delighted to welcome him and the entire experienced Astro Machine team into the AstroNova family.”

“Today’s announcement marks the start of an exciting new chapter in Astro Machine’s 44-year history,” Selak said. “We are thrilled about joining AstroNova, whose industry knowledge, technologies, and global presence will enable us to play an even greater role in helping our customers grow their businesses.”

The transaction was funded with borrowings from an amended version of the Company’s existing senior bank debt facilities. The acquisition is expected to be accretive to earnings in the current fiscal year.

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