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08/2021

NDC TECHNOLOGIES acquired by NORDSON CORPORATION

UNITED STATES Industrial Equipment / Special Machinery / Instrumentation & Measurement EV $100–350M

Context

Nordson Corporation has finalized the acquisition of NDC Technologies from Spectris plc, an operation designed to fundamentally broaden the group's test and inspection platform. The strategic rationale for this transaction centers on a "market-diversification" play, merging the target's technical operational depth in in-line measurement with the group’s established global sales and service infrastructure. This fusion effectively creates a specialized powerhouse in the process control arena, providing the organization with the necessary technical resources to address mission-critical needs in new industry verticals such as film extrusion, converting, and energy storage.

NDC TECHNOLOGIES, which reported an EBITDA margin of [members only] in 2020, is valued in this transaction at an EV/EBITDA multiple of 10x–18x, representing a level close to the average currently observed in the Industry & Manufacturing sector (11.7x).

-> Deep-dive in Industry & Manufacturing market trends

Target

NDC Technologies operates as a premier technology organization dedicated to the engineering and distribution of high-precision measurement solutions for in-line manufacturing process control. The entity’s business model is centered on a proprietary framework of technical sensing, utilizing near-infrared, laser, X-ray, and nucleonic technologies to measurement and control critical parameters in real-time. Its value proposition is anchored in technical operational depth, providing manufacturers with the hardware and sophisticated algorithms required to ensure structural quality and reliability in complex production environments. Strategically, the firm focuses on a diverse array of industrial applications, including film extrusion, cable and tubing, and the rapidly advancing energy storage sector. By maintaining a specialized focus on technical excellence and customer-centricity, the organization ensures a mission-critical role in the structural efficiency of manufacturing workflows worldwide. The entity prioritizes industrialized innovation to facilitate the structural advancement of global material science standards.

Ent. Value

$100–350M

Equity Value

[members only]

Multiples

EV / Revenue

1x–3x

EV / EBITDA

10x–18x

EV / EBIT

[members only]

Historical Financials (USD)

Year
Rev
EBITDA
EBIT
2020
$50–100M
$5–25M
[members only]
2019
$50–100M
$5–25M
[members only]

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REFERENCES

Valuation range: EV $100–350M

Revenue range: $50–100M

EBITDA range: $5–25M

EV/Revenue range: 1x - 3x

EV/EBITDA range: 10x - 18x

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of NDC TECHNOLOGIES by NORDSON CORPORATION are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Press release: view release

Acquirer: nordson corporation