Privately owned Astro had audited sales for the year ended Dec. 31 of $33 million.
Additional
consideration may be paid to the sellers over the four years following
the closing based on a percentage of earnings before interest and
taxes.
Astro designs, manufactures and sells a variety of specialized medical laboratory test equipment. It operates a 40,000 sq. ft. facility in Strongsville, OH, and has a 20,000 sq. ft. addition under construction.
Sparton's intent is to operate the business as a wholly-owned subsidiary at its present location and with the current operating management and staff.