AstroNova (NASDAQ: ALOT), a Rhode Island-based provider of identification and marking systems for aerospace, defense, and labeling and packaging, has agreed to be acquired by Arcline Investment Management in an all-cash deal valuing the company at approximately $272 million. Shareholders will receive $29.00 per share, a premium of about 209% over AstroNova’s closing price on April 6. AstroNova, founded in 1969, will become privately held upon closing.
AstroNova’s aerospace segment supplies flight-deck printers and avionics certified across major aircraft; its product identification segment provides marking and labeling systems for OEMs and brand owners. The deal follows a strategic review and is expected to close in the third quarter. The company is led by CEO Jorik Ittmann.
The back of the envelope valuation multiple: With $12.7 million in fiscal 2026 adjusted EBITDA, enterprise value implies roughly 21x trailing EBITDA.
Rockefeller Capital Management is advising AstroNova and Mesirow is the financial advisor to Arcline.
