ATS Automation buys German healthcare assembly systems manufacturer
ATS Automation Tooling Systems Inc. has acquired the Sortimat Group, a manufacturer of specialized assembly sy...
March 29, 2010 by Canadian Plastics
ATS Automation Tooling Systems Inc. has acquired the Sortimat Group, a manufacturer of specialized assembly systems for medical products and pharmaceutical dosing devices.
Cambridge, Ont.-based ATS paid a final purchase price of approximately $62 million, according to a press release. The company expects to complete the acquisition in the first quarter of fiscal 2011.
Headquartered in Germany, and established in 1959, Sortimat’s flagship assembly automation and handling operations are located near Stuttgart where it employs more than 70 per cent of its 450 employees. It also has locations in Chicago and a small, 60 per cent owned joint venture in India.
In calendar 2009, Sortimat reported revenues of approximately Cdn.$78 million.
The purchase of Sortimat aligns with ATS’s strategy of expanding its leading position in the global automation market and enhancing growth opportunities, ATS said, particularly in strategic segments such as healthcare. “We welcome the addition of Sortimat’s highly skilled people, customers, complementary technologies, scale and presence to our world leading automation business,” said Anthony Caputo, ATS CEO. “This acquisition gives us the critical mass to organize ATS marketing and divisions into a group focused on healthcare and we intend to grow our exposure to this attractive market by helping our customers differentiate themselves from their competitors.”