CALABASAS, Calif., July 21 (UPI) -- National Technical Systems Inc. of California has acquired Ingenium Testing, a product compliance and engineering services provider in Rockford, Ill.
NTS acquired the business and assets of Ingenium and two affiliated companies for $12.5 million in cash, plus potential earn-out consideration in the event certain performance targets are met.
NTS, a provider of testing and engineering services, anticipates the acquisition will contribute at least an additional $3 million in earnings before interest, taxes, depreciation and amortization in the first full fiscal year following the acquisition.
Ingenium's customer base, capabilities and service offerings are concentrated in the aerospace, heavy industry and automotive markets, all of which are among NTS' core competencies.
The staff and operations of the acquired business will continue to be located in what was Ingenium's facility in Rockford, and NTS will operate that business as part of NTS Technical Systems.
As part of the integration of the operations, NTS will take steps to expand those facilities by adding resources, equipment and new services at the Rockford location, according to William C. McGinnis, president and chief executive officer of NTS.
"The acquisition of Ingenium is a significant step in our strategic plan to grow NTS into a larger, more diverse and more comprehensive provider of testing and engineering services," McGinnis said.
The acquired Ingenium assets include 12 fully automated test chambers including a U.S. Federal Communications Commission-listed chamber; a reverberation chamber; multiple U.S. Department of Defense military-standard chambers; a lightning strike test area; and multiple, advanced resources for electromagnetic interference and electromagnetic compatibility.
