ITALY – Nordson Corporation (Nasdaq: NDSN), a Westlake, OH-based precision technology company, acquired Arag Group, a Rubiera, Italy-based company which specializes in the development, production and supply of precision control systems and smart fluid components for agricultural spraying.
The all-cash transaction values Arag at an enterprise value of €960M. With the acquisition, Nordson will expand its end markets. Upon completion of the deal, Arag will operate as a division in Nordson’s Industrial Precision Solutions segment.Established in 1976, Led by CEO Arag is a company which specializes in the development, production and supply of precision control systems and smart fluid components for agricultural spraying. Its portfolio consists of three key product families: fluid components, such as nozzles, pumps and filters; smart components that measure and control the flow, quantity and location of the dispensed fluid; and control systems that provide a variety of input and functionality to the customer. Its product portfolio is further supported by differentiated software and data capabilities. Arag supports its customers through seven manufacturing and distribution locations globally and a sales network serving more than 80 countries. The company is expected to generate €155M in sales in FY2023. It is advised by Capvis AG, a European mid-market private equity firm, which acquired the business in 2020 from its founders, who alongside management, have remained invested during Capvis’ holding period.Founded in 1954 and led by CEO Sundaram Nagarajan, Nordson is a precision technology company that leverages a scalable growth framework through an entrepreneurial, division-led organization to deliver top tier growth with margins and returns. The company’s direct sales model and applications expertise serves global customers through a wide variety of critical applications. Its diverse end market exposure includes consumer non-durable, medical, electronics and industrial end markets. 26/06/2023
