Aurora Capital Group last week said it has completed its acquisition of engineering services and laboratory test provider National Technical Systems (NTS).
Aurora, a private equity firm that invests in various industries, paid $23 per share in cash for NTS, which ceased trading on the NASDAQ Global Stock Market last Friday following completion of the deal.
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| NTS’ Services include systems engineering. Photo: NTS |
NTS provides engineering services, testing and certification and program management to a range of industries including aerospace, defense, telecommunications, automotive and high technology.
“We see Aurora as a new partner with proven expertise in many of the markets we serve and with the shared goals of delivering world-class technology, innovation and service to our customers and making NTS a thriving, prosperous company,” William McGinnis, president and CEO of NTS, said in a statement. “We look forward to working with Aurora and calling upon its expertise and operating resources to help expertise and operating resource to help extend our market leadership and build NTS into a significantly larger and more profitable company.”
NTS, which is based in California, operates a network of test laboratories in North America to provide independent testing, inspection and certification solutions. Customers include private companies and government-sponsored research and testing agencies.
NTS management team will remain intact.
Houlihan Lokey Capital served as financial adviser to NTS on the deal.