OEM Capital

OEM Capital was asked by inTEST Corporation., a publicly traded company (NYSE:INTT) headquartered in Mt. Laurel, New Jersey to help in its acquisition program. inTEST is a global supplier of innovative test and process solutions for use in manufacturing and testing across a wide range of markets including automotive, defense/aerospace, industrial, medical, semiconductor and telecommunications. As a result of OEM Capital’s involvement, inTEST was able to acquire the business of Acculogic Inc. based in Markham, Canada. Acculogic designs, manufactures, and markets systems and instruments for testing electronic devices, circuit boards, and systems.

Acquisition of profitable pressure, force and torque sensor and industrial weighing equipment manufacturers with revenues from US$10-50 million

Sensit manufactures equipment and designs technologies that enable natural gas utilities to detect leaks in their pipes, protecting workers in the natural gas distribution industry, ensuring compliance with regulatory standards, and reducing climate change effects by minimising emissions of methane. Their technology is also used in emergency response situations by firefighters facing explosion risk due to leaking natural gas. Sensit will become part of Halma's Process Safety sector and will continue to be led by its existing management team, who were significant shareholders, from its current location. The cash consideration for Sensit is US$51.5 million (£39.6 million1), on a cash and debt free basis, which will be funded from Halma's existing facilities. When adjusted for tax benefits with a net present value of approximately US$5 million (£3.8 million), the net initial consideration is approximately US$46.5 million (£35.8 million). Sensit's unaudited revenue and Adjusted EBIT for the twelve months ended December 2019 were US$25.9 million (£19.9 million) and US$4.4 million (£3.4 million), respectively.