ATS Corporation (TSX:ATS) entered into a definitive agreement to acquire Paxiom Automation Inc. on May 15, 2024.The purchase price represented an EV/EBITDA1 multiple accretive to ATS? current trading multiple. Paxiom will join ATS?

Products and Food Technology business. In its calendar year ended December 31, 2023, Paxiom generated revenues of approximately CAD 67 million and an adjusted EBITDA margin1 above 19%. The transaction is expected to close in the third calendar quarter of 2024, subject to customary closing conditions.

ATS plans to fund the acquisition with cash and by drawing on its revolving credit facility.