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AstroNova Acquires Portugal-Based MTEX NS, S.A. For Total Enterprise Value Of €24.3M

Author: Benzinga Newsdesk | May 09, 2024 08:14am

Additionally, the transaction provides for up to a €4 million earnout payable to the seller over three years based on the achievement of specified revenue growth targets. AstroNova expects the transaction to add an additional $8 million to $10 million in revenue in this fiscal year.

MTEX NS operates an 81,000-square-foot engineering and manufacturing center and has strong distributors in Europe, the Middle East, and North and South America.

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