Olympus Corp. Acquires all of R/D Tech. Inc.’s Outstanding Shares
July 1, 2005
On May 31st, 2005, Olympus Corporation, through its wholly-owned subsidiary, Olympus NDT Canada Inc., completed the acquisition of all the issued and outstanding shares of R/D Tech Inc., a manufacturer of non-destructive equipment with proprietary advanced technology in the area of ultrasound defect detection and eddy current defect detection. R/D Tech Inc. is based in Québec City and has various places of business worldwide. The purchase price paid by Olympus Corporation was approximately
This transaction follows a series of recent acquisitions made by R/D Tech in order to consolidate its position as a leading provider of non-destructive testing equipment. In September 2003, R/D Tech acquired the assets of NDT Engineering Corporation based in Seattle, WA. On January 1st, 2004, they bought Panametrics, Inc., located in Whaltham, Massachusetts, a subsidiary of General Electric. And finally, on November 1st, 2004, R/D Tech Inc. acquired all the non-destructive test assets of Staveley Sensors, Inc., Staveley Instruments Inc. and Staveley NDT Technologies, Inc. Prior to the Staveley acquisition, in June 2004, R/D Tech Inc. sold its Power Generation division to Zetec, Inc. for an amount of approximately $55 million.
McCarthy Tétrault Notes:
McCarthy Tétrault acted for R/D Tech Inc. in all the above-mentioned transactions and related financing matters with a team led by François Amyot that includes, among others, Philippe Boivin (Intellectual Property and M&A), Mathieu Laflamme (M&A), Jean-François Dolbec (Labour) and Yves Comtois (Competition).
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