Topic: How To Invest

Spinoffs & Takeovers Hotline – Thursday, April 6, 2023

Article Excerpt

ATS CORP., $51.84, symbol ATS on Toronto, (formerly ATS Automation Tooling Systems)provides some of the world’s top manufacturers with factory automation solutions, including contract manufacturing. Founded in 1978, it has 50 manufacturing facilities and 75 offices in North America, Europe, and Asia. On March 28, 2023, ATS announced that it would acquire Triad Unlimited LLC,  a U.S.-based reliability engineering service provider for North American and European markets. Triad will carry out sales and service for ATS’s installed equipment through the entire sales and service cycle. Murrieta, California-based Triad’s Relialytics software should help ATS predict the maintenance needs of its customers, adding value to its automation offerings. Triad has significant experience in the life sciences and food and beverage industries. The purchase price has not yet been disclosed. In the quarter ended January 1, 2023, ATS’s revenues were $647.0 million, up 18.3% from $546.8 million a year earlier. Revenues were higher due to internal growth, acquisitions, and favourable foreign currency exchange movements. In addition,…