ATS Automation completes acquisition of PE-backed IWK for $144 mln

Cambridge, Ontario-based ATS Automation Tooling Systems Inc (TSX:ATA), a provider of custom designed, built and installed manufacturing solutions, has completed its previously announced $144 million buy of IWK Verpackungstecknik GmbH, a pharmaceutical and personal care tube filling and cartoning machinery group. The seller in the deal was OYSTAR Group, a Stutensee, Germany-based producer of packaging machinery that is portfolio company of private equity firm Odewald. The Berlin-based Odewald invested in OYSTAR in 2007.

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