Arcline Investment Management has completed its acquisition of AstroNova, Inc., purchasing all outstanding common shares for $29.00 per share in cash. The transaction, valued at approximately $555 million based on AstroNova’s outstanding shares, marks the end of the company’s public trading on the NASDAQ.
AstroNova, headquartered in West Warwick, Rhode Island, provides identification and marking solutions across multiple industries, including aerospace, defense, labeling, and packaging. The company operates through two primary segments: the Aerospace segment, which manufactures airborne print solutions, avionics, and data acquisition products; and the Product Identification segment, which produces hardware, software, and consumables for original equipment manufacturers, commercial printers, and brand owners.
Arcline Investment Management, a private equity firm with over $30 billion in assets under management, executed the deal as an all-cash transaction. Shareholders will receive a letter of transmittal outlining next steps for surrendering share certificates or book-entry shares in exchange for the $29.00 per share consideration. Investors holding shares through brokerage accounts will have payments deposited directly into their accounts following the surrender process.
