Frank Guidone, Company CEO commented, "RTD is a great company, and a terrific add to our temperature portfolio. RTD has tremendous presence in the motor/generator market, and services all of the major OEMs in that space. They also produce custom temperature sensors for the factory automation, medical and general industrial markets. We believe the addition of their blue chip customer base, along with our global footprint and low cost manufacturing capability, is a strong combination with both operational and strategic synergies."
The Company paid $17.3 million to the Sellers in cash at closing. Additionally, RTD can earn up to an additional $1.5 million if certain sales performance goals are achieved. The Company expects the transaction to add approximately $15 million in annual net sales and approximately $3.0 million in annual EBITDA.
Jim Sulciner, RTD President and CEO commented, "RTD Company is thrilled to be a part of MEAS as it will expand our worldwide capabilities in manufacturing, sourcing and sales."