SPX Technologies acquired Sealite Pty Ltd (incl. Sealite USA / Avlite Systems and Star2M) for $80.3 million (net of $2.3M cash acquired), a transaction completed in April 2021, structured as all cash.
Sealite Pty Ltd (incl. Sealite USA / Avlite Systems and Star2M) operates in Detection & Measurement, is based in Australia. Sealite is a leader in the design and manufacture of marine and aviation Aids to Navigation products. The acquisition included Sealite USA, LLC (d/b/a Avlite Systems) and Star2M Pty Ltd.
Cornerstone of SPX's Aids to Navigation roll-up, adding global marine and aviation AtoN scale and geographic diversification.
Global AtoN scale and geographic diversification beyond SPX's North American base. Detection and Measurement reportable segment CEO: “With the acquisitions of Sealite, Sabik, and ITL, we do believe we are the very strong global leader here, approximately $170 million. And we've diversified geographically as well as end markets.”
Advisory firms were not disclosed for this transaction.