HUBER+SUHNER acquiring Astrolab Inc.
As of 28 December, HUBER+SUHNER acquired the assets of Astrolab Inc. based in Warren, New Jersey at a non-disclosed price. The deal will be financed from own resources. With its patented minibend® and microbend® cable assemblies, Astrolab is mainly active in high tech niche markets like space & defence and offers high end radio frequency solutions for industrial markets. This year Astrolab recorded net sales of around USD $20 million and a profit margin well above industry average. The company’s flexible microwave cables and assemblies are renowned for its unrivalled electrical properties and performance. Besides in Warren, NJ, Astrolab operates a second production site in Costa Rica. Thanks to the strong market position in North America the company generated over 80 percent of its sales in the home market.
According to Urs Kaufmann, CEO of HUBER+SUHNER, Astrolab is strategically the perfect match for the company as this acquisition ideally complements the RF portfolio and the position of the company in North America. “We are taking an important step in the implementation of our strategy by enhancing our US presence and our access to very important high tech niche markets”, said Mr. Kaufmann. “We are building Astrolab into a lead competence center for tape wrapped microwave cable design as well as production center for space, defence and aviation applications within the HUBER+SUHNER Group. There is little overlap of the product portfolios and the access to HUBER+SUHNER’s global sales force will unlock true growth potential for Astrolab products”.
“We are beginning a new chapter in our company history and we are convinced that HUBER+SUHNER is the ideal strategic match for Astrolab”, said Steve Toma, President of Astrolab, Inc. “HUBER+SUHNER possesses the strength and the reach to tap into new geographical markets for our world class products, and HUBER+SUHNER’s engineering depth will help foster our innovative power. Furthermore, HUBER+SUHNER has a proven track record in promoting a positive company culture with a long-term business perspective, which is important for our personnel”.