National Technical Systems, a provider of testing and engineering services, has entered into an agreement to be acquired by Aurora Capital Group for $23 per share in cash which equates to an equity valuation of approximately $267 million.
National Technical Systems (NASDAQ: NTSC) is a provider of engineering services to the aerospace, defense, telecommunications, automotive and high technology markets. Services provided include design engineering, compliance, testing, certification, quality registration and program management. The company was founded in 1961 and is based in Calabasas, CA (www.nts.com).
“We believe Aurora Capital Group, based on its proven expertise in many industries that are important to NTS, like aerospace, defense and transportation, to name just a few, is the right partner for us. We look forward to working closely with them and continuing to build a bright and prosperous future for NTS and all our stakeholders,” said NTS President and CEO William McGinnis.
Aurora Capital focuses principally on control-investments in middle-market industrial, manufacturing and service oriented businesses. The firm has $2 billion of capital under management and is headquartered in Los Angeles (www.auroracap.com).
Houlihan Lokey served as the financial advisor to National Technical Systems.
© 2013 PEPD • Private Equity’s Leading News Magazine • 8-16-13