New Mexico Business Weekly - 2:43 PM MDT Monday
NTS Technical Systems, a wholly-owned subsidiary of National Technical Systems Inc., has acquired B & B Technologies Inc. in Albuquerque.
B & B designs and integrates test, measurement, automation, data acquisition and control systems. Over the past 14 years, it has developed relationships with defense, aerospace and commercial companies such as Sandia National Laboratories, Honeywell (NYSE: HON) and General Dynamics (NYSE: GD).
National Technical Systems (Nasdaq: NTSC) is an engineering firm based in Calabasas, Calif. Lance Butler, CEO of B & B, says his firm's services are complementary to those of NTS.
The two companies work for many of the same customers, Butler says, doing adjacent services but not overlapping. "We build test systems and they do testing," he says. B & B, which has been in business for 14 years and has 13 employees, will stay in Albuquerque, Butler adds.
The acquisition by NTS was attractive because it gives his firm the leverage of a large company, Butler says, and allows him to bring his firm to the next level. B & B will be a division of NTS and will eventually change its name to TSE, or Test Systems Engineering. Butler declined to discuss the financial aspects of the deal.
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