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SMT & Inspection | May 09, 2007

Nordson acquires Yestech & PICO Dosiertechnik

Nordson Corporation has announced that it has acquired YESTech Inc. and PICO Dosiertechnik (PICODOSTEC) in two separate transactions.
Both companies will become part of Nordson's Advanced Technology Systems segment. YESTech Inc. is a provider of Automated Optical Inspection (AOI) and X-Ray inspection systems used in the production of printed circuit board assemblies and semiconductor packages.

YESTech will be integrated into Nordson's Dage Holdings subsidiary, which manufacturers bond testing and digital X-Ray inspection systems. The addition of AOI systems will expand Nordson's test and measurement capabilities. YESTech employs 23 people and is headquartered in San Clemente, Calif.

PICODOSTEC is a manufacturer of piezoelectric technology dispensing systems, which dispense adhesives, lubricants and other performance materials at very high speeds in an extremely accurate manner. The company's products are used predominately in the electronics, life sciences, packaging, food, chemical and automotive industries. The company, which employs 12 people and is headquartered near Munich, Germany, will operate as part of Nordson's Asymtek subsidiary.

Nordson purchased the two businesses for a total of $53 million and expects the acquisitions to be accretive to 2007 fiscal year earnings. Together, YESTech and PICODOSTEC had 2006 revenues of approximately $20 million. From 2004 to 2006, revenues grew at an average of 57 percent per
year. In 2006, the two companies had combined operating margins of 32 percent and combined EBITDA of $6.4 million.

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