Novanta draws €118 million from revolver to fund W.O.M. acquisition

By Tali Rackner

Minneapolis, July 6 – Novanta Inc. drew €118 million on the revolving credit facility under its second amended and restated credit agreement to fund its acquisition of W.O.M. World of Medicine GmbH, according to an 8-K filing with the Securities and Exchange Commission.

Borrowings under the revolver are due on the May 2021 maturity of the credit agreement and may be repaid at any time before the maturity date without prepayment penalties.

The draw occurred, and the acquisition closed, on Monday.

Bedford, Mass.-based Novanta makes precision photonic and motion control components and subsystems.

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