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Nordson (NDSN) to Acquire Italy-Based ARAG Group in $1B Deal
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Nordson Corporation (NDSN - Free Report) has entered into a deal to acquire ARAG Group and its subsidiaries for approximately €960 million (approximately $1050.98 million) in cash. Based in Rubiera, Italy, ARAG is a provider of precision control systems and smart fluid components for agricultural spraying.
The acquisition of ARAG will enable NDSN to penetrate the high-growth precision agriculture end market. Also, the to-be-acquired entity’s precision spraying, dispensing and software solutions will aid Nordson customers increase crop yields while lowering the usage of fertilizers and chemicals.
The transaction is likely to close in Nordson’s fourth quarter fiscal 2023 (ending October 2024) and it will be funded through a combination of cash on hand and financial debt. Upon the completion of the deal, the acquired business will be added to NDSN’s Industrial Precision Solutions segment.
Nordson aims to expand its market share, product offerings and customer base through strategic acquisitions. In November 2022, the company acquired CyberOptics Corporation. The buyout expanded Nordson’s semiconductor test and inspection capabilities with the help of CyberOptics’ 3D optical sensing technology and wireless measurement sensors. The acquisition contributed 12% to revenues from the Advanced Technology Solutions unit in the fiscal second quarter. The same boosted total revenues by 3%.
Zacks Rank & Stocks to Consider
NDSN currently carries Zacks Rank #3 (Hold). Some better-ranked companies from the Industrial Products sector are discussed below:
IR delivered a trailing four-quarter earnings surprise of 12.6%, on average. In the past 60 days, estimates for Ingersoll Rand’s 2023 earnings have increased 6.7%. The stock has improved 20.9% in the year-to-date period.
Alamo Group Inc. (ALG - Free Report) currently sports a Zacks Rank of 1. ALG delivered a trailing four-quarter earnings surprise of 17.7%, on average.
In the past 60 days, estimates for Alamo’s 2023 earnings have increased 12.7%. The stock has increased 27.8% in the year-to-date period.
Axon Enterprise (AXON - Free Report) sports a Zacks Rank of 1, at present. The company has a trailing four-quarter earnings surprise of 44.4%, on average.
In the past 60 days, estimates for Axon’s 2023 earnings have increased 13%. The stock has rallied 14.3% in the year-to-date period.
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Nordson (NDSN) to Acquire Italy-Based ARAG Group in $1B Deal
Nordson Corporation (NDSN - Free Report) has entered into a deal to acquire ARAG Group and its subsidiaries for approximately €960 million (approximately $1050.98 million) in cash. Based in Rubiera, Italy, ARAG is a provider of precision control systems and smart fluid components for agricultural spraying.
The acquisition of ARAG will enable NDSN to penetrate the high-growth precision agriculture end market. Also, the to-be-acquired entity’s precision spraying, dispensing and software solutions will aid Nordson customers increase crop yields while lowering the usage of fertilizers and chemicals.
The transaction is likely to close in Nordson’s fourth quarter fiscal 2023 (ending October 2024) and it will be funded through a combination of cash on hand and financial debt. Upon the completion of the deal, the acquired business will be added to NDSN’s Industrial Precision Solutions segment.
Nordson Corporation Price
Nordson Corporation price | Nordson Corporation Quote
Nordson aims to expand its market share, product offerings and customer base through strategic acquisitions. In November 2022, the company acquired CyberOptics Corporation. The buyout expanded Nordson’s semiconductor test and inspection capabilities with the help of CyberOptics’ 3D optical sensing technology and wireless measurement sensors. The acquisition contributed 12% to revenues from the Advanced Technology Solutions unit in the fiscal second quarter. The same boosted total revenues by 3%.
Zacks Rank & Stocks to Consider
NDSN currently carries Zacks Rank #3 (Hold). Some better-ranked companies from the Industrial Products sector are discussed below:
Ingersoll Rand Inc. (IR - Free Report) presently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks.
IR delivered a trailing four-quarter earnings surprise of 12.6%, on average. In the past 60 days, estimates for Ingersoll Rand’s 2023 earnings have increased 6.7%. The stock has improved 20.9% in the year-to-date period.
Alamo Group Inc. (ALG - Free Report) currently sports a Zacks Rank of 1. ALG delivered a trailing four-quarter earnings surprise of 17.7%, on average.
In the past 60 days, estimates for Alamo’s 2023 earnings have increased 12.7%. The stock has increased 27.8% in the year-to-date period.
Axon Enterprise (AXON - Free Report) sports a Zacks Rank of 1, at present. The company has a trailing four-quarter earnings surprise of 44.4%, on average.
In the past 60 days, estimates for Axon’s 2023 earnings have increased 13%. The stock has rallied 14.3% in the year-to-date period.