Natus Medical Inc. entered into a definitive agreement to acquire Grass Technologies Corporation from Astro-Med Inc. for approximately $18.6 million.
Grass Technologies Corporation generated sales of approximately $18.5 million in the year ended January 31, 2012. The completion of the transaction is subject to net working capital of Grass Technologies not being less than $2 million. Approval of Astro-Med's shareholders is not required in connection with the transaction. The transaction is expected to close on January 31, 2013. Dan Winnike, Gaurav Sud, Allison Cooper, Stefano Quintini, and Blake Martell of Fenwick & West, LLP acted as legal advisors for Natus. Margaret D. Farrell of Hinckley, Allen & Snyder LLP acted as legal advisor to Astro-Med, Inc.