ATS to buy BioDot for $106M
By DE StaffGeneral Machine Building Medical
California-based firm makes non-contact and quantitative fluid dispensing systems.
CAMBRIDGE, Ont. – ATS Automation Tooling Systems Inc. has signed a deal to buy U.S. company BioDot Inc., a manufacturer of automated fluid dispensing systems, for $106 million.
California-based BioDot was founded in 1994 and makes non-contact and quantitative fluid dispensing systems for the diagnostic, life science, industrial and medical product markets. The company employs 94 people spread across its two U.S. manufacturing facilities and locations in China and the United Kingdom.
ATS says BioDot will continue to be led by its long tenured CEO, Tony Lemmo. The deal is expected to close in the second quarter of 2021, pending customary regulatory filings. ATS says it plans to fund the acquisition by drawing on its revolving credit facility.