NTS buys rival Garwood

June 12, 2012 at 2:35 PM
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CALABASAS, Calif., June 12 (UPI) -- Competition between U.S. testing and engineering firms National Technical Systems Inc. and Garwood Laboratories Inc. is over -- NTS has bought its rival.

NTS said it has acquired all outstanding shares of Garwood, a privately owned company that will operate as a wholly owned NTS subsidiary.

"Garwood offers us a natural fit in terms of synergies with customers and services and will enable us to extend our reach throughout the Southern California region, which is a key geographical area for us," said NTS President and Chief Executive Officer William C. McGinnis.

"In addition, the acquisition of long-time competitor Garwood Laboratories increases our market share and adds several new clients in the aerospace, defense, telecom and commercial electronics markets.

"The addition of the Garwood employee base augments our top-flight teams of engineers, technicians and management with an exceptional and complementary group of talent."

Terms of the acquisition weren't disclosed. The takeover was the third for NTS in the past 12 months. It earlier acquired Ingenium Testing of Illinois and Massachusetts company Lightning Technologies Inc.

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