Nov 04, 2014
Olathe, KS-based Elecsys Corp. has sold its business to Lindsay Corp. of Omaha, NE. Elecsys develops innovative machine-to-machine communication technology and provides data acquisition and management systems and electronic equipment for the energy production, distribution, agriculture, water management, transportation and safety industries. In addition to its proprietary products, Elecsys designs and manufactures rugged and reliable custom solutions for multiple original equipment manufacturers in a variety of industries. The company employs 135 people, and reported annual revenue of $30.4 million in its last fiscal year.
Lindsay Corp. provides irrigation equipment, water management systems and infrastructure products for highway safety and railroad industries. The company employs more than 1,200 people and reported annual revenue of $618 million last fiscal year.
The acquisition price was $70.5 million. The target date for the transaction is January, 2015, at which time Elecsys will become a wholly owned subsidiary of Lindsay Corporation.