Private equity firm Arcline Investment Management has completed its acquisition of AstroNova, Inc., purchasing all outstanding common shares for $29.00 each in cash.
The transaction, valued at approximately $290 million based on AstroNova’s outstanding shares, marks the end of the company’s public listing on the Nasdaq. AstroNova, which trades under the ticker NASDAQ:ALOT, will cease trading following the deal’s closure.
Shareholders will receive $29.00 per share in cash, with payment instructions to be provided via a letter of transmittal. Investors holding shares in street name will have funds deposited directly into their brokerage accounts. AstroNova’s headquarters are located in West Warwick, Rhode Island.
AstroNova operates in identification and marking solutions, serving industries including aerospace, defense, labeling, and packaging. The company’s aerospace segment produces airborne printing systems, avionics, and data acquisition products, while its product identification segment supplies hardware, software, and consumables for original equipment manufacturers and commercial printers.
Arcline Investment Management, the acquiring firm, manages over $30 billion in assets under management. The transaction concludes AstroNova’s status as a publicly traded entity.
