ATS Automation completes acquisition of SP Industries

Cambridge, Ont.-based ATS Automation Tooling Systems Inc. has completed its acquisition of SP Industries Inc., a designer and manufacturer of biopharma processing equipment, life sciences equipment, and lab apparatus products.

ATS entered into a definitive agreement and announced its intention to acquire SP on Nov. 7.

Warminster, Pa.-based SP offers a portfolio of research and commercial lyophilizers, aseptic fill-finish equipment and systems, life sciences equipment, and recurring revenues through its labware and glassware business. In the trailing 12-months ended Sept. 30, 2021, SP generated revenues of US$179 million, ATS officials said, with approximately 70 per cent of its revenues are derived from customers in North America, 14 per cent from Europe, and the remainder from other regions.

SP employs approximately 700 employees spread across its nine manufacturing facilities and locations in the U.S., U.K., and Spain.

SP will continue to be led by its CEO, Brian Larkin.