Novanta to draw on revolver for ATI Industrial Automation purchase

By Sara Rosenberg

New York, July 19 – Novanta Inc. plans to use revolving credit facility borrowings and cash on hand to fund its $172 million acquisition of ATI Industrial Automation, according to a news release.

Closing is expected in the third quarter, subject to customary conditions, including regulatory approvals.

Novanta is a Bedford, Mass.-based supplier of core technology solutions that give medical and advanced industrial original equipment manufacturers a competitive advantage. ATI is an Apex, N.C.-based supplier of intelligent end-of-arm technology solutions to original equipment manufacturers for advanced industrial and surgical robots.

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