AMSC announces it has acquired NWL for $25M in cash, $31.4M in stock

AMSC announced that it has acquired NWL. At closing, AMSC paid $25M in cash and issued 1,297,600 restricted shares of AMSC common stock with a value of approximately $31.4M. 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.