SPX Technologies acquired Schonstedt Instrument Company for $16.4 million (net of $0.3M cash acquired), a transaction completed in March 2018, structured as all cash.
Schonstedt Instrument Company operates in Detection & Measurement, had revenue of about approximately $9.0 million (twelve months prior to acquisition). Schonstedt is a manufacturer and distributor of magnetic locator products used for locating underground utilities and other buried objects.
Adds magnetic-locator technology to SPX's underground location and inspection franchise.
Detection and Measurement reportable segment
Advisory firms were not disclosed for this transaction.