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AMSC (NASDAQ:AMSC), a leading system provider of megawatt-scale power resiliency solutions that orchestrate the rhythm and harmony of power on the grid™ and protect and expand the capability of our Navy's fleet, today announced that it has acquired NWL, Inc. (NWL), a private company based in New Jersey that provides power supplies to industrial and military customers. At closing, AMSC paid $25 million in cash and issued 1,297,600 restricted shares of AMSC common stock with a value of approximately $31.4 million. As part of the transaction, AMSC will make an additional cash payment of $5 million, subject to various adjustments set forth in the stock purchase agreement.
AMSC believes the acquisition of NWL directly aligns with the company's strategic priorities to accelerate profitable growth, broaden its product offerings, and expand both market reach and market share. NWL has a history of profitable revenue with a three-year average of approximately $55 million in revenue per year and operating margins approaching the teens. NWL supplies components for a variety of energy applications. Their offerings include power supplies and power controls to industrial and military customers. NWL's military progress, coupled with AMSC's own growth in this sector, is expected to further strengthen and amplify the military power supply sales channel. By leveraging NWL's leadership position in the industrial and military markets, AMSC expects to expand its business offerings and deliver greater value to existing and new customers, business partners, and shareholders.
Posted In: AMSC