Aurora completes acquisition of NTS

By : |November 25, 2013 0

LOS ANGELES, USA: Aurora Capital Group and National Technical Systems (NTS) Inc. jointly announced that Aurora has completed the previously announced acquisition of NTS, a provider of testing, inspection and certification solutions.

Aurora acquired NTS through an affiliated entity, which acquired all of the outstanding securities of NTS for $23.00 per share in cash, which represents a premium of approximately 39 percent to NTS’s closing stock price on August 15, 2013. NTS’s shares of common stock will cease to be traded on the NASDAQ Global Stock Market.

NTS president and CEO William C. McGinnis, said: “This marks the beginning of a new and exciting chapter in the history of NTS. 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.”

Operating one of the largest networks of test laboratories in North America built over half a century, NTS has long set the standard for independent testing, inspection and certification solutions. Its customers include a diverse mix of thousands of the nation’s leading corporations and government-sponsored research and testing entities. McGinnis, along with the rest of his management team, will continue overseeing NTS’s operations under Aurora’s ownership.

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