SPX Technologies acquires Sabik Marine (“Sabik”)
Snapshot
SPX Technologies acquired Sabik Marine (“Sabik”) for $77.2 million (net of $0.6M cash acquired) in February 2019. The transaction was structured as all cash. Sabik Marine (“Sabik”) is a Detection & Measurement business.
- Acquirer
- SPX Technologies
- Target
- Sabik Marine (“Sabik”)
- Value
- $77.2 million (net of $0.6M cash acquired)
- Date
- February 2019
- Type
- full acquisition
- Status
- ready
The deal at a glance
About this deal
SPX Technologies acquired Sabik Marine (“Sabik”) for $77.2 million (net of $0.6M cash acquired), a transaction completed in February 2019, structured as all cash.
Sabik Marine (“Sabik”) operates in Detection & Measurement, had revenue of about approximately $28.0 million (twelve months prior to acquisition). Sabik Marine is primarily a manufacturer of obstruction lighting products (Aids to Navigation).
Adds obstruction-lighting scale to SPX's emerging Aids to Navigation franchise.
Aids to Navigation scale and geographic reach, later combined with Sealite and ITL. Detection and Measurement reportable segment CEO: “With the acquisitions of Sealite, Sabik, and ITL, we do believe we are the very strong global leader here, approximately $170 million.”
No advisory firms have been disclosed for this transaction.